British construction firms could find work in Russia thanks to Olympic funding, according to a report by UK Trade & Investment (UKTI).

The UKTI report, Building Krasnodar, said that money invested in the Krasnodar Krai region of Russia for the 2014 Olympic and Paralympic Winter Games could lead to more work for British companies.

The report claims that the federal budget of over $10 billion (US) will be more than matched by additional public and private investment to transform the host town of Sochi, and that the games will effectively be a catalyst for wider investment in the region.

Andrew Cahn, UKTI chief executive, said: “As this report demonstrates, the Sochi 2014 Olympic and Paralympic Winter Games provide an unprecedented opportunity for the UK construction sector to establish itself in Russia.

“The proven expertise, innovation and professionalism of British companies make them world leaders in this field. It has never been more important for UKTI to make these businesses aware of the support that we can give them to capitalise on this.”

UKTI commissioned Building Krasnodar as part of its ongoing programme of practical assistance for UK-based companies looking to capitalise on potential overseas markets.