Russian authorities have paid Crocus Group 1,1 bln Russian rubles as compensation for the losses of the company in the construction of facilities for the APEC summit in Vladivostok.

Report informs referring to RBK, the head of the company Araz Agalarov confirmed the information.

According to Agalarov, a few months ago, he filed a writ of execution by the court decision in the Finance Ministry and got the money.

Notably, the company had requested 1.9 bln rubles.

In spring 2009, Crocus Group was chosen as the general contractor for the construction of the Far Eastern University on "Russian" isle for the summit in Vladivostok. The amount of the contract for construction amounted to 42 bln rubles.

According to Agalarov, he spent a further 3.6 bln rubles of his own funds on road construction and landscaping.