Vilnius Municipality, Lithuania, is inviting potential private partners and other interested parties to attend a briefing and consultation on Vilnius Multifunctional Hub PPP project.
The consultation will take place on July 8, and is being organized by the projects coordinators, Vilnius Municipality and the Central Project Management Agency, Lithuania's central PPP organisation.
The purpose of Vilnius Multifunctional Hub PPP project is to develop, operate, and maintain a 20,000 seater stadium together with additional infrastructure. The stadium will be a multifunctional space, hosting sporting events along with providing a range of other public services including preschool and informal education activities. The facility will also be home to Lithuania's sports museum, a communication and information centre and an incubator for cultural, creative and sports activities.
Originally envisioned as a national stadium, the Government of Lithuania and Vilnius Municipality revised the goals of the project substantially in 2013, redefining it as a multifunctional hub. They also worked to create the conditions for additional private investment. A total investment of approximately €94 million (US$105.1 million) is envisaged for the project, with up to 75% of this expected to come from EU structural funds.
The purpose of the upcoming consultation is to present key information on the project to potential investors. A range of topics will also be discussed with market participants; these will include the criteria for private partner selection, qualification requirements, technical specifications, risk allocation, payment and penalty mechanisms and the financing structuring.
Interested parties must register for the event before 3 July 2015 by writing to Ms Justina Balciunaite at firstname.lastname@example.org.