February 17th, 2009
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MOSCOW: The economic crisis has hit preparations for the 2014 winter Olympic Games, as Russian private firms shy away from bidding to build needed
infrastructure in Sochi, a news agency said on Tuesday.
The report said local authorities were recently forced to extend tender deadlines for Olympic-related construction contracts due to lack of interest from companies hit by financial difficulties.
Authorities also faced mounting difficulty in acquiring land necessary for construction of Olympic infrastructure in the southern Russian city of Sochi because owners were refusing to sell at prices offered by the government.
The Austrian city of Salzburg, which lost out to Sochi for the right to host the 2014 winter games, said in November, it was still prepared to do so if the Russian host was unable to complete infrastructure construction in time.
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