Kuban authorities give Olympic Media Centre to federal ownership

The MPs of the Krasnodar Territory (also known as Kuban by the name of the river) have approved the resolution on transfer of the Olympic Media Centre in Sochi into federal ownership. The Kuban Governor said that the Territory plans to continue getting rid of unprofitable assets.

The "Caucasian Knot" has reported that the Chief Olympic Media Centre, which can accommodate more than 6500 journalists, was opened in Sochi in January 2014.

In November, the Legislative Assembly of the Territory decided to take the Media Centre into the territorial ownership. On December 24, right of state ownership was registered. On December 28, the MPs adopted the resolution to transfer the Centre into the federal ownership, the website of the territorial administration reports.

According to Governor Veniamin Kondratiev, in order to preserve the investment attractiveness in the difficult economic conditions, and in the presence of accounts payable, the Territory should get rid of inefficient or non-profile assets.

As of the end of 2015, the state debt of Kuban was about 146 billion roubles. By transferring the Media Centre into the federal ownership, Kuban gets rid of the need to pay the debt of 15 billion roubles, as well as of the maintenance costs, which in 2016 will make about 380 million roubles, the "Sochi Express" reports.

It is planned that the building of the Media Centre will be used by the "Talent and Success" Foundation for working with gifted children.

Full text of the article is available on the Russian page of 24/7 Internet agency ‘Caucasian Knot’.