SOCHI — Above the Black Sea city of Sochi, metals magnate Vladimir Potanin is spending billions of rubles to turn a patch of mountainside into a global showpiece.
Potanin has paid for new buildings, new lifts and hundreds of snow canons in the hope of transforming slopes not far from sub-tropical Sochi into a world-class ski resort.
Like most of the plans to host the Winter Olympic Games next year, Russia's ambitions for the ski village and other venues are out-sized in scale and ambition. Total investment to make the sleepy region fit to welcome thousands of competitors and the world's media is expected to exceed $50 billion.