On July 30, 2010 at the central office of the ITERA International Group of Companies, an Agreement with MonArch Concern OJSC was signed for the design and turnkey construction of an Olympic facility of federal significance in Sochi. A modern office complex will be built in the Olympic Park of the Imeretinskaya Lowland. The responsible executor and investor-developer of the project is the specially created ITERA-SportStroy company, the MonArch Concern OJSC is the general designer and contractor. Opening the ceremony, the Chairman of the Board of ITERA International Group of Companies LLC V.P. Makeev noted that “the Olympic Games in Sochi are both a nationwide construction project and the country’s prestige”. In this regard, he described the company’s participation in the construction of Olympic facilities as “honorable and responsible”. General Director of MonArch Concern OJSC S.A. Ambartsumyan expressed gratitude to ITERA, which chose MonArch for the construction of a landmark facility, noting that the latest architectural concepts, technologies and materials will be used in its design and construction, which will make it possible to optimally use and preserve the natural environment. An office with an area of 30,000 square meters and a parking for 360 cars, which are planned to be built in the Olympic Park of the Imeretinskaya Lowland, are intended for the Organizing Committee of the XXII Winter Olympic and XI Paralympic Games 2014. In addition to the staff, it will house the Olympic Games Control Center.