French civil engineering company Vinci Construction Grands Projets will build the new Dynamo soccer stadium at Moscow’s Petrovsky Park after signing a contract with the Dynamo Management Company, Vedomosti reported Wednesday, citing both companies.
Construction of the 9 billion ruble ($2.7 billion), 27,000 seat stadium will be partially underwritten by the French credit insurance company Coface and in part financed by a loan from state bank VTB, a spokesman from Dynamo Management Company said. The size of the loan is not clear.
A number of French banks may also provide financing, said Andrei Peregudov, senior vice president of VTB and chairman of VTB Arena, which owns the site of the stadium.
Vinci Construction, which oversaw the construction of the Ataturk Stadium in Istanbul and the Stade de France in Paris, will act as the general contractor of the project and will work alongside two specialist architecture and designer firms — the American Manica Architecture and the Russian Speech, Tchoban and Kuznetsov.
The stadium will form part of the sporting area of the Dynamo complex and is scheduled for completion in 2017.
However, the stadium will not be considered as a venue when Russia hosts the 2018 FIFA World Cup, as its capacity falls below the minimum standard required by FIFA.