India Desperate To Get Into Russian Construction Business

Moscow: India is desperate to get into the profitable construction business, chiefly to build up world-class hotels, in Russia’s Black Sea resort city of Sochi that will host 2014 Winter Olympics.

Indian ambassador Kanwal Sibal allged, “Ahead of the winter Olympics in Sochi we are keen to build world class hotels here and would like to pick local contacts for this.”

Mr. Sibal was speaking at a business gathering during his visit to the Krasnodar Territory in south Russia, which is also called the country’s breadbasket and seaside resort land.

Accompanied by a delegation of Moscow-based Indian Business association, he said that Indian business would also be very eager to take part in the Olympic preparations of Sochi for which the Russian government has assigned USD 13 billion.

The representative also conveyed India’s wish to pick Sochi as a stopover for the increasing number of Indian carriers' flights to Europe. Russia gained the bid to host winter Olympics in 2014 in Sochi at the International Olympic Committee session in Guatemala City earlier this month.