Real estate developer Hanner says the Public Procurement Service’s (VPT) report on the updated national stadium project does not change its plans to finish the decades-long project.
National Stadium
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The contract value of the multi-purpose project, which includes the national stadium, has been reduced by a further EUR 1 million to EUR 157.2 million, says Vilnius Mayor Valdas Benkunskas.
The Vilnius mayor has said the construction of the entire multifunctional complex will cost around EUR 38 million more after real estate developer Hanner takes over the national stadium project. The municipality would cover EUR 28 million of the increase.
BaltCap private equity fund, the concessionaire of the National Stadium in Vilnius, which is undergoing construction, has confirmed that it is looking for an investor for this project, reports Verslo žinios.
The national stadium project has been suspended due to discussions over indexation of construction prices, says BaltCap investment firm, entity implementing the project.
Lithuania's Public Procurement Service has ordered the Vilnius authorities to terminate a 156-million-euro contract on the construction and operation of a national stadium in the Lithuanian capital.
The City Council of Vilnius gave on Wednesday the green light for signing a 156-million-euro contract with Axis Industries, the builder, and BaltCap, the financial investor, on the construction and operation of a national stadium in the Lithuanian capital.
The costs of the Vilnius authorities and the government on the construction and maintenance of a national stadium can reach 155.9 million euros, the authorities in the Lithuanian capital say.
Axis Industries, the potential builder of Lithuania's national stadium in Vilnius, has proposed to the Vilnius authorities to get BaltCap, the largest private equity fund manager in the Baltic states, involved in the funding of the project.
Lithuania's national stadium will be built in the country's second-largest city of Kaunas, not in the capital Vilnius, Prime Minister Saulius Skvernelis believes. In his words, if the government, not the Vilnius authorities, had implemented the project, the stadium would have been built already.
The City Council of Vilnius decided on Wednesday to go ahead with the capital's national stadium project without EU funding, using its own funds and those provided by the central government.
Vilnius Mayor Remigijus Simasius says Lithuanian Prime Minister Saulius Skvernelis has assured him of the central government's continuous support for the capital's national stadium project.
Lithuanian Prime Minister Saulius Skvernelis is meeting with Vilnius Mayor Remigijus Simasius on Friday to discuss the future use of a former prison complex in the heart of the capital and funding for a national stadium project.
A Vilnius court has allowed the Vilnius authorities to sign a national stadium concession agreement with Axis Industries, part of the Icor Group, which won the tender.
Vilnius' municipal officials admit that the Lithuanian capital's national stadium project is stuck in limbo as Vilniaus Nacionalinis Stadionas (VNS), the second bidder for a concession agreement, plans to contest a court ruling upholding the city's decision to remove it from the tender process.
Residents of Vilnius and sports community of the country can mark today as a day to remember – the Council of Vilnius gave the green light to the concession agreement of the multifunctional complex in Šeškinė, and there are no more obstacles to signing it. Having signed the agreement, starting works...
The Government of Lithuania and Vilnius authorities have settled their dispute and agreed on the funding of the national stadium's construction. It was agreed that the government will pay only after the construction is finished.
The Lithuanian Court of Appeals on Thurday gave a green light to the concession tender of the National Stadium in Vilnius.
The stalling National Stadium project in Vilnius has increased the risk for Lithuania to lose the funding of the European Union, Prime Minister Saulius Skvernelis says.
Lithuania’s tender for construction and management concession of a national stadium in Vilnius has been extended once again with the deadline for submitting preliminary bids moved to December 8, from October 23.
