July 22 2009 (RIA Novosti) - The construction of sports facilities for the 2014 Winter Olympic Games in Sochi will cost Russia 195.3 billion rubles ($6.25 billion), Vice-Premier Dmitry Kozak said on Wednesday.

"Today, as a result of making a decision on the optimization, primarily in relation to those facilities that will function as sports venues, the Olympic Games will cost 195.3 billion rubles," Kozak said.

The cost of building facilities for the Sochi Olympics was earlier estimated at 206 billion rubles ($6.6 billion).

Kozak said that 102 billion rubles ($3.3 billion) would be allocated from the federal budget and the remaining 93 billion rubles ($2.9 billion) would be provided by investors.