"A lot of sports facilities will be built in Sochi if we win the 2014 Olympics bid. But if we lose, we will be helping at a federal level to develop its winter resorts," Alexander Zhukov told a meeting of Russia's cabinet with President Vladimir Putin.
The federal target plan unveiled by Zhukov aims to transform the Black Sea resort of Sochi, already a popular summer-holidays destination for hundreds of thousands of Russians, into a world-class sports venue. The program includes plans to construct new facilities and upgrade old ones.
Sochi was unsuccessful in its bids for the 1998 and 2002 Olympic Winter Games, largely as a result of its poor-quality Soviet-era infrastructure.
Zhukov said projects will be financed with money from private sources as well as from the treasury.
"We are talking here not just about [making] substantial government allocations, but also about attracting private investment," he said.
Construction is already underway of new private hotels and alpine skiing slopes at Krasnaya Polyana, the centerpiece of the town's Olympic bid, Zhukov said.
President Putin, a passionate skier, often spends his winter vacations at Krasnaya Polyana, where he has a dacha.
