Support The Moscow Times!

Deripaska's Transstroi Wins Back Zenit Stadium Contract

Oleg Deripaska speaking at the coperate forum "Relay of Generations" in Krasnoyarsk.

Oleg Deripaska's construction company, Transstroi, has won a 12.5 billion ruble ($386 million) tender to complete building work on a sports arena in St. Petersburg for local football club Zenit, Kommersant reported Tuesday, citing sources in the government and close to the company.

The decision reinstates Transstroi as contractor for the St. Petersburg government after the original contract was terminated in September by mutual agreement, due to rising cost estimates. Transstroi has already spent 9.9 billion rubles on the stadium's construction.

Deripaska's company competed against a single undisclosed company for the tender, which was held on Friday. The official results have not yet been announced.

So far, St. Petersburg has spent 15.9 billion ruble on the arena. Forty-five percent of the construction work has been completed.

Read more

Independent journalism isn’t dead. You can help keep it alive.

As the only remaining independent, English-language news source reporting from Russia, The Moscow Times plays a critical role in connecting Russia to the world.

Editorial decisions are made entirely by journalists in our newsroom, who adhere to the highest ethical standards. We fearlessly cover issues that are often considered off-limits or taboo in Russia, from domestic violence and LGBT issues to the climate crisis and a secretive nuclear blast that exposed unknowing doctors to radiation.

Please consider making a one-time donation — or better still a recurring donation — to The Moscow Times to help us continue producing vital, high-quality journalism about the world's largest country.