Saransk to build $276 million World Cup arena
Half of the funds will come from the federal budget, while the other $138 million will come from unspecified sources, the Mordovia regional government said, RIA Novosti reports.
The stadium will seat 45,000 people for the big event and may be reduced to 26,000 after the World Cup.
Officials say the Yubileiny stadium will recoup its construction costs.
"The stadium will be completely self-financing and make a profit thanks to offices, cafes, restaurants, sport facilities, cinema, auto showrooms, and other outlets," the government said, RIA Novosti reports. "The designation of this complex will be universal: it will be a sports, cultural, leisure, shopping and business center, one of the city symbols."
Construction has begun on the arena, which is expected to open in 2015. It will also act as the home for local team Mordovia Saransk, which recently began its first season in the Russian Premier League.
- Ural Airlines modifies rewards program
- Exhibition to celebrate Tchaikovsky's birthday
- Ural State Academy of Architecture and Arts hosts first StartUp Design Week
- URFU hosts annual natural history festival
- Robocenter added to map of important robotics centers
- Sverdlovsk housing market prices increase
- Volschansk Mechanical Plant expanding product range
- Sverdlovsk Regional Entrepreneurship Support Fund to accept applications for CMEF
- Over 4,500 residents have already lost jobs this year in Sverdlovsk
- USMU accepting Global Education program applicants