Presentation of the project `Federation Island`in St.Petersburg. `Federation Island`(pictured) will be a 350-hectare artificial island located off the coast of Sochi, Black Sea resort , Russia.`Federation Island` is expected to be completed in time for the 2014 Winter Olympics in Sochi. The project will cost around 6.2 billion dollars (4.4 billion euros).Federation Island will offer private residences, hotels, as well as cultural, leisure and recreational facilities. Federation Island will be built in the shape of the Russian Federation and it will reflect Russia`s major geographical features. The Russian river network will be used as a reference for the island`s waterways.Federation Island will have seven main islands, more than a dozen private, and three breakwater islands. Sandy beaches, dunes, grasslands, bushes, small forests, and riverside will offer variety of accommodations: beach residences, luxury villas and apartments, dune, river and cliff houses.Federation Island construction will start in 2009