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. Last Updated: 07/27/2016

Hochtief Tapped to Construct Spartak Moscow's New Stadium

German construction company Hochtief is to build Spartak Moscow football club's new stadium in northwest Moscow, a source at IFD Capital, which owns 90 percent of the club, said last week. Hochtief itself declined to comment.

The stadium, to be built at the Tushinsky Aerodrome, will seat 35,000 spectators, with capacity for another 12,000 people in an adjacent multi-use sports facility.

The initial plan for the stadium is due to be approved this summer, said Yury Tskhovrebov, the chairman of the board of directors of Spartak Stadium, the company in charge of the project. He said the stadium would cost $150 million.

By the end of the year, the final plans should be ready, and in 2007 preliminary work will begin on the site, Tskhovrebov said.

Financing for the project will be decided at a later date, he said.

The director of Spartak Stadium, Andrei Kozyrev, said the stadium should be ready in 2009.

"The location is good. It has good transport infrastructure, which is very important for large sporting events," said Alexei Samsonov, a director at ITF development.

So far, Lokomotiv is the only leading Russian football team to have managed to build its own stadium.

In addition to Spartak, Moscow's CSKA and Zenit St. Petersburg are both building stadiums. Construction of CSKA's 30,000-seat stadium, also in northwest Moscow, is due to begin this year at a cost of 40 million euros ($51 million).

Gas giant Gazprom has said it will invest $250 million in a new 50,000-seat stadium for Zenit.

Formed in 1922, Spartak has won the most national league championships of any football team in the country, having won the Soviet football league 12 times and the Russian equivalent on nine occasions.