Since 1992. Always 100% Reliable.
IME
Corporation is based in a suburb of Denver, Colorado and provides business consulting services to companies and
individual customers. This site is designed to provide information to
US businesses on opportunities that emerged in connection with the 2014
Winter Olympic Games in Sochi, Russia.
2014 Sochi
Winter Olympics
Table of Contents
Background
In July 2007 International
Olympic Committee named the City of Sochi in Southern Russia the host of the
2014 Olympic and Paralympic Winter Games. This is a very prestigious award that
also involves an enormous amount of preparation. Various commercial,
residential and sports facilities are being designed, built and upgraded in and
around the City and will be completed within the time period between now and 2014. The question is
not whether all the required projects will be completed on time, but by whom.
Key Facts and Figures
Sochi is located on the east coast
of the Black Sea and at the foothills of the Caucasus Mountains and presents a unique combination of the only subtropical
resort in Russia and a winter mountain ski resort. So far, the number of
winter tourists has been 90% less than the number of summer tourists. A
Russian government program for "Sochi Development as a Mountain
Resort" provides for the investment of US$12.5 billion within the
next seven years.- During the Investment Forum
Sochi-2007, 132 investment agreements for
a total of USD 18.2 billion were signed. At Sochi-2008, the total value of signed agreements was EUR 13.8 billion. Preparation for the Investment
Forum Sochi-2009 is currently under way.
- According to the Russian Minister
for Economic Development, investors have been identified for 99% of all
facilities required for the preparation to the Olympics. What remains is
only to select contractors to build them.
- A Program for the Construction of Olympic Projects has been approved by the Government of
Russia in December 2007 and amended in June 2008.
- At a recent press conference, the
head of the State Olympic Corporation stated that Russia is definitely
unable alone to build the gigantic infrastructure required for the
Olympics. All projects will be subject to a bidding process open to
foreign companies.
- Tax and customs benefits will be granted
to contractors involved in the preparation for the Olympics. On November
16, 2007, the State Duma (Parliament) of the Russian Federation approved
the Sochi tax bill 326 votes to 18.
- Sochi is located in the Krasnodar
Krai boasting one of the best investment environments among Russian
regions, convenient geographic location, political stability,
well-developed financial infrastructure, highly educated work force, rich
natural resources, a number of "Special Economic Zones."
International rating agencies Fitch Ratings, Standard & Poor’s and
Moody's assigned to Krasnodar Krai long-term ratings varying from B to AA-
with "Stable" or "Positive" forecasts.
- Special very attractive mortgage
loan terms are being established for buyers of residential real estate in
Sochi.
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Olympic Projects
Principal Olympics projects include:
- 26,000 hotel rooms to bring the
total number of hotel rooms in Sochi to 31,000. The number of 5-star
hotels will increase tenfold, the number of 4-star hotels fivefold. It is
envisioned that 5-star and 4-star hotels will be built mainly by foreign
developers due to lack of local experience in Russia.
- Cross-country ski complex for 16,000
spectators with tracks and a stadium.
- Biathlon complex for 20,000
spectators.
- Downhill skiing center for 18,000
spectators and freestyle center for 14,000. 15 ski lifts for downhill
events and 13 lifts for freestyle and other ski events.
- Bobsled track for 11,000 spectators.
- Two hockey arenas for 7,000 and
12,000 seats respectively.
- Covered speed skating center for
8,000 seats.
- Figure skating palace for 12,000 seats.
- Snow board park for 15,000
spectators.
- A US$3.0 billion Olympic Village complex
on the Black Sea shore including hotels, elite residences, sports and
entertainment facilities, shopping centers, a theme park with water
features and, potentially, the largest yachting marina on the Black Sea
coast. A total of 10.8 million square feet of various facilities are
scheduled to be built in the Olympic Village alone.
- A second Olympic Village in the
mountains.
- 360 miles of high-speed highways.
- 90 miles of special Olympic
highways.
- 30-plus miles of light rail
connecting the sea shore with the mountains.
- 18 engineering infrastructure facilities.
- Doubling the capacity of the Sochi
airport to 2,500 persons per hour.
- Two cargo sea ports processing 5
million tons of shipments per year.
- An international telecenter and
press-center on the Black Sea shore and a second press-center in the
mountains.
- A 625-acre man-made Federation
Island in the Black Sea next to the coast of Sochi where 7,800,000 square
feet of hotel space, residences, commercial and recreational facilities
will be built. 20,000 people will live on the Island and 70,000 will
commute to work. The total amount of investments in the Island is
estimated at US$6 billion.
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Additional Opportunities
In addition to Olympics projects, Krasnodar Krai offers a
wide array of other opportunities for foreign investors. Here are just a few
representative examples:
- A Black Sea mountain golf resort in
Gelendzhik.
- A mountain recreational complex in the
Tuapse area.
- A resort complex in the Anapa area.
- An elite sea resort in Anapa
including hotels and spas, country clubs, restaurants, shopping centers,
sports facilities.
- Two glass container manufacturing
plants.
- Two solar elements manufacturing
plants.
- Several MDF board and LVL lumber manufacturing
plants.
- Several ceramic products
manufacturing plants.
- Dozens of high-rise and medium-rise
residential projects.
- A host of smaller-scale projects.
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Who We Are
Alex
Svirsky, the
principal of our company, was born and raised in the former Soviet
Union. He
received his degree of MS in Engineering, cum laude, from a Russian
college and
worked for several years as a design engineer at a machine
manufacturing plant
and later as a patent expert at a research institute. He moved to the
United
States and started a language translation business, which he
has been running successfully for more than 15 years providing services to corporate
clients. He earned the distinction of being one of only four linguists in
the US certified in translating English and Russian in both directions
and is the only one of them possessing both engineering and law degrees. He later became involved in the construction business and completed a number of successful
construction and development projects in Colorado as a principal of his own company. He obtained a degree of Master of
Laws in Intellectual Property from The John Marshall Law School, Chicago, Illinois and is registered to practice
before the United States Patent and Trademark Office in patent cases.
We are in
a unique position to help American and other companies establish and maintain business and personal
contacts in Russia and adjacent republics, research and advise clients on local
technical and legal requirements, locate and provide any required information,
while at the same time being closely familiar with doing
business in the United States.
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What We Can Do for You
If
you are
interested in exploring any of the above or other business or
investment
opportunities in Russia, Ukraine or other Republics of the FSU, we will research and provide to you all the
necessary
information using sources in the public domain and our local contacts. At this time, we believe the most
promising opportunities are those related to the 2014 Sochi Winter
Olympics. We have established the
proper procedures that potential contractors and investors are expected
to follow
in order to take part in the preparation for this historic event, while
pursuing
their business goals, and will be happy to provide consultations on such procedures.
We
will help you
set up partnerships or joint ventures with reputable
Russian companies, if necessary, and will follow through the entire
process,
depending on your needs, from establishing initial contacts, preparing
and
translating letters of interest and other communications and business
and legal document, visiting the sites,
reviewing local requirements to drafting proposals and signing
contracts, and will
provide any related services you may need through the completion of your
project.
Useful Links
Official website of Sochi 2014 Olympics
How to Contact Us
Mailing Address:
IME Corporation
P.O. Box 461294
Aurora, CO 80046-1294 USA
Office: (303) 627-0700
Fax: (303) 627-9212
Alex
Svirsky direct: (720) 276-8724 or alexsvirsky@usa.net
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© 2007-2009 IME Corporation