The real estate development company Hanner has completed negotiations with the construction company Naresta and is planning to begin works on the national stadium in Vilnius.
Hanner owner and CEO Arvydas Avulis told BNS that Naresta, which has already completed the demolition of the remains of the previously started and unfinished stadium in 2023, will construct the main stadium, two football pitches and install the main engineering networks for 70 million euros.
The contract with both Naresta and investment company BaltCap will be signed this week, and the construction of the national stadium is expected to resume within a week, Avulis said.
“We should start the construction work within a week. [...] It is not always the case that you sign a contract and the next day equipment and people are already on their way there. The main thing is that we are determined to start the works immediately, but we need to take the circumstances into account and give people at least a week to prepare,” Avulis told BNS.
The company is also getting close to an agreement with another contractor to develop the rest of the project, the Hanner CEO added.
Last week, Hanner completed negotiations with BaltCap on the takeover of the national stadium project in Vilnius.
In late May, the European Commission gave its final approval to amendments to the concession agreement for the stadium project, which provides for state aid.
The Vilnius authorities and the Ministry of Education, Science and Sport signed a 25-year concession contract with Vilniaus Daugiafunkcis Kompleksas (Vilnius Multifunctional Complex) in October 2021, Naresta started construction in the autumn of 2023, which is currently on hold.
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