The City Council of Vilnius gave on Wednesday its preliminary approval to an agreement on the construction of a national stadium in the Lithuanian capital, with a final decision expected to be made in a week’s time.
The draft document passed the first reading in the Council in a vote of 31 to seven with five abstentions.
Vilnius Mayor Remigijus Simasius warned that the central government may withdraw from the project and the city risks losing EU funding if it drags its feet on the project.
The local authority plans to sign a 25-year national stadium concession agreement with Axis Industries, a company of the Icor Group.
The value of the project is estimated at 79.9 mln euros.