On July 10, an important decision was made in the Vilnius municipality - council members voted on the financing project for the construction of a multifunctional stadium.
It should be noted that the municipality and the Government plan to implement the complex of health promotion, education, culture, and employment promotion using their own funds without EU support.
After the vote, it became clear that the project was approved - 20 members voted in favor of the stadium construction, 8 abstained, and one was against.
For the ambitious project implementation, the Vilnius municipality will need around 50 million euros from the city budget.
The concessionaire will receive the funds only after completing the construction work.
Currently, negotiations for the construction concession of the multifunctional complex are taking place with the company "Axis Industries". It would implement the project with companies "Venetus Capital", "Kauno arena", "Populous", and "Cloud architects". The concession agreement with the private investor will be concluded for 25 years.
The private investor AB "Axis Industries" plans to build a football stadium with no less than 15,000 seats, a sports museum. The stadium is just a part of the multifunctional complex, which will also include 15 more sports facilities - 1 IAAF compliant athletics track, allowing for international level athletic competitions to be held in Vilnius, 6 basketball halls, 3 football training fields, handball, gymnastics, boxing halls. The complex will also have a 300-place kindergarten, a culture and education center, and a library.
