"Males” intending to take over National Stadium Vilnius construction, small and indirect shareholders of the project company "Vilnius multi-functional complex" from wider comments about "BaltCap"holds back the scandal.
"From our perspective, there is no problem that Hanner will take care of the project," 1% told Elta. Radvilė Krušinskienė, director of Kaunas Arena, which owns the shares of Vilnius Multipurpose Complex.
Kaunas Arena itself is managed by Tesonet Global through the company Žalgiris Group together with sports manager Paulius Motiejūnas. This is the company behind products like NordVPN, Oxylabs, Surfshark, and more.
"Our position does not fundamentally differ (from the representatives of "Kaunas Arena" - ELTA), we will not comment on much more," said Agnė Laskauskaitė, communications manager of Tesonet Global.
1 percent Axis Industries, i.e. the Icor group of companies, also owns the shares of "Vilnius Multipurpose Complex".
"As we are no longer associated with this project, we believe it would be unethical to provide any comment or any other opinion in this context," her representatives responded.
The remaining 98 percent shares are the property of BaltCap company Venetus capital. It is this capital that Hanner is preparing to take over.
"BaltCap" managing partner Simonas Gustainis Eltai has previously said that the National Stadium project is possible only after Vilnius City Council approves its price indexation.
"If there is no indexing, this project has no future," he said in the "ELTA corner" program.
At that time, the manager of Kaunas Arena, R. Krušinskienė, also commented that BaltCap's decision to withdraw from the project does not affect them.
"This is an internal BaltCap decision that does not significantly affect our participation in the project," she said.
R. Krušinskienė also stated that she has no objections to the currently proposed changes in the financing of the project.
"We have no objections. We hope that these decisions will allow the project to be implemented on time," she said.
As previously announced, the real estate development company Hanner intends to take over the National Stadium project in Vilnius from the capital fund manager BaltCap. In addition, a universal arena suitable for cultural and sports events should appear in the multi-functional complex in Šeškina, and the stadium itself will have 3 seats. (up to 18 thousand) the number of seats is increased.
Price indexation should be agreed upon in the project concession contract in February. According to the mayor of the capital Valdas Benkunskas, the actual cost of construction alone from 2020 beginning until 2022 increased by 40 percent. However, the municipality is preparing to bear only a part of this increase.
Vilnius city municipalities according to after indexing National Stadium with the entire multifunctional complex should cost approximately 2,4 million. euros more than previously planned, ie 158,4 million. euros. According to the mayor, the cost of construction works increased by 28 million. euros, new works would also contribute (3 thousand additional seats in the stadium and a universal arena), that is 10 million. euros. However, it is stated that almost 36 million euros could be saved by borrowing for only 2 years, instead of 22 years, as previously planned.
The Vilnius Municipal Council should decide on these changes on February 28. at the meeting.
ELTA reminds that BaltCap is currently facing reputational problems, after it became clear that former fund partner Šarūnas Stepukonis could embezzle about 40 million. euros and lose at least part of it in the casino.
Owner of Hanner Arvydas Avulis indicates that the construction of the stadium could be completed in 2026.
The entire multifunctional complex includes the 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 area with throwing sectors, a cultural center with a library and Kindergarten with 300 places.
Edgar Savickas (ELTA)
