After Lithuania received the approval of the European Commission (EC) in Vilnius National Stadium for amendments to the concession agreement, the fund "Whitecap" the real estate company intending to take over the shares of the former project developer "Males"leader Arvydas Avulis argues that the process is complicated by additional requirements for the company agreement.
"Now different requests are emerging, the Baltcap fund wants to receive more of everything, it is not easy to agree on this, because, in our opinion, that company is currently unable to implement this project and it should not impose conditions on us or dictate conditions," A. Avulis told LRT Television on Friday.
He said he could not disclose what specific conditions the Baltcap fund was imposing, and the company itself did not comment on the situation.
Previously, A. Avulis told Elta that an agreement with Baltcap could be reached in the coming weeks if the company is "in good faith", and according to him, in order for the agreement to take place, Baltcap must take full responsibility for the actions of former partner Šarūnas Stepukonis.
"We agreed on the principle that what was invested by the Baltcap fund - that is, by investors who entrusted money to this fund - we will return that money, but we will return it when we complete the project," the chairman of the board of Hanner assured.
According to A. Avulis, the stadium construction process may take approximately 30 months.
The EC approved a positive conclusion on the Vilnius National Stadium project for Lithuania on Thursday.
Mayor of Vilnius Valdas Benkunskas stated that the stadium could be completed even faster - in less than two years, he also emphasized that the takeover of shares is a mutual process between Hanner and Baltcap, in which the Vilnius Municipality will not interfere.
The concessionaire of the stadium project is the company "Vilnius Multipurpose Complex", indirectly managed by the BaltCap Infrastructure Fund of the investment company "BaltCap".
After the EC approved a state aid scheme for the project worth EUR 2022 million in 155, the Commission's approval had to be obtained again after the concession agreement was amended and the project price indexed.
V. Benkunskas said that he currently sees no risk that the stadium concession contract would need to be renewed again.
The entire multifunctional complex consists of 18 thousand seats. 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.
Ła Klimaševska (ELTA)
