Russia will build an artificial island in the Black Sea before the Olympic Games

Moscow - Russia plans to build an artificial island before the Winter Olympic Games scheduled for 2014 at the Black Sea resort of Sochi. The project will cost six billion dollars (approximately 117 billion crowns), the developer company reported today according to Reuters.
    The island, covering an area of 250 hectares, will be named the Island Federation and will be shaped like a map of Russia. According to the design company M-Industry Group, the island will be connected to the mainland by three bridges.
    The project will be designed by Dutch architect Erick van Egeraat. The proposal was presented for consideration to Russian President Vladimir Putin last week during an investment conference in Sochi.
    A similar idea is being implemented by Dubai, which is building an archipelago of 200 artificial islets shaped like a map of our planet.
    The artificial Black Sea island has not yet been designated as one of the venues for the Olympic Games. The designers have not yet announced what they intend to build on it.
    In Russia, the second-largest oil exporter in the world, where high profits from oil and gas exports have flowed in recent years, according to the American magazine Forbes, there are 43 billionaires (calculated in dollars).
    Property prices in Sochi rose by 30 percent in just one week after the International Olympic Committee (IOC) announced in July that the city would host the Winter Olympic Games.