St Petersburg soccer stadium may cost more than US$1bn

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The cost of the 69,000-seat Zenit Arena in St Petersburg, Russia, may exceed US$1bn, Russian news agency TASS has revealed.

The stadium, which will be the new home of FC Zenit St Petersburg as well as a venue for the 2017 Confederations Cup and the 2018 FIFA World Cup soccer tournaments, is being constructed on Krestovsky Island. Deadline for completion of construction works has been set for December 2016.

St Petersburg authorities had allocated funds from the city’s budget to build the new stadium, which began construction in 2007. The project has been subject to a number of delays, but meeting the December 2016 deadline will be essential if the stadium is to be ready for the 2017 tournament.

The stadium will feature a retractable roof and a pullout field, and will be one of the 12 venues selected for the 2018 FIFA World Cup.

March 23, 2016

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