Yekaterinburg EXPO to break even only in 2016-2017

April 15, 2014. The International Exhibition Center Yekaterinburg EXPO might only break even in 2016 or 2017 (not considering the interest payments on loans). The original break-even point was set for the year 2014, Deputy Economics Minister of Sverdlovsk Region Elena Novotorzhentseva said at a press conference in Yekaterinburg today.

‘The exhibition center was built on borrowed money, so, if one doesn’t take the necessary interest payments into account, we should start breaking even by 2016 or 2017,’ the official said. According to Ms Novotorzhentseva, 30% more of exhibition space is used every year.

In late 2012, acting Director-General of The Mid-Urals Development Corporation Vadim Khlyzov claimed the break-even point could be reached as early as 2014.
Yekaterinburg EXPO was opened in 2011. The exhibition center cost 5.8bn RUR to build and now costs 600m RUR to 750m RUR to maintain yearly.

As for the loans taken out to build the center, these are being paid off by Sverdlovsk Region Government, which guaranteed the loan. On April 8, 2014, it was decided in the course of the local Cabinet meeting that 286m RUR would be added to Yekaterinburg EXPO’s authorized capital to cover the interest payments on the loans.

Other materials on the topic::