National Stadium from "BaltCap" taking over "Males"leader Arvydas Avulis says he is ready to implement the project, and already in 2026. the first football match could be played at the end. According to him, it is important to decide on the fate of the project as soon as possible.
"We are ready to implement this project. We are waiting for the Public Procurement Service and the European Commission (conclusions - ELTA) and we are ready to start work the day after them. I want to assure (…) that if we undertake this work, we will really do it. We just need to make a decision faster, because time is running out", said A. Avulis at the meeting of the Audit Committee of the Seimas on Wednesday.
"We would like a decision, whether it is positive or negative, all decisions are very good for us. If it is positive, we will start immediately and my proposal that in 2026 is still valid. we could play football at the end," he noted.
A. Avulis explained that he will have to borrow 100 million from the bank for the project. euros and put 30 million EUR of own capital. According to Hanner's manager, both he and the bank are ready to "launch at any time."
"I am ready to do that and if there are no obstacles, I can guarantee that I will do that." I have to borrow 100 million from the bank. euros and also put 30 million of their own capital. euros to build the complex. Both the bank and I are ready to start at any time," said the head of Hanner.
VPN reported last week that National Stadium the draft amendments to the concession contract lack the validity of the price calculation, so the Vilnius municipality and the Ministry of Education, Science and Sports (ŠMSM) risk overpaying. Also, according to the institution, it is not clear why the risk of price increase is not shared among all parties, and the responsibility is completely transferred to the municipality and the ministry.
Vilnius city mayor Valdas Benkunskas stated that the VPN's conclusion on the National Stadium concession agreement shows that the project can be continued. At that time, the chairman of the board of the real estate development company "Hanner", Arvydas Avulis, says that VPN's comments do not change the plans to complete the decades-long project.
ELTA reminds that at the end of February Vilnius city municipalities the council approved the changes foreseen in the multifunctional project of the capital.
The real estate development company Hanner intends to take over the project of the national stadium in Vilnius from the capital fund manager BaltCap. Its owner, Arvydas Avulis, indicates that the construction of the stadium could be completed by the end of 2026. According to the mayor of the capital Valdas Benkunskas, the actual cost of construction alone from 2020 beginning until 2022 increased by 40 percent.
The whole multifunctional complex consists of National Stadium with a sports museum inside, a sports center with basketball, handball, gymnastics, and boxing halls, three football training fields, an international category athletics stadium with a football field, an athletics warm-up zone with throwing sectors, a cultural center with a library and a kindergarten for 300 children.
According to V. Benkunskas, after indexing, the National Stadium with the entire multifunctional complex should cost approximately 1,2 million. euros more than previously planned, i.e. 157,2 million. euros. It is estimated that construction works became more expensive by 27,1 million. euros, new works would also contribute (3 thousand additional seats in the stadium and a universal arena), that is 13 million. euros. However, it is stated that 38,1 million euros could be saved by borrowing for only 2 years, instead of 22 years, as previously planned.
Before resuming construction, the municipality will still need to receive a positive conclusion from the European Commission.
Ignas Dobrovolskas (ELTA)
