Vilnius to resume construction of national stadium, which began in 1987

The European Commission on Thursday officially approved amendments to the concession agreement for the construction of a multifunctional complex with the national stadium in Vilnius, Lithuanian public broadcaster LRT reported.

Thus, the European Commission approved about 155 million euros in state aid:

• a direct grant of around €146 million to cover the costs of building the stadium,
• a direct grant of €8 million to cover the costs of maintaining and holding public events at the stadium;
• exemption from paying rent for real estate and land in the amount of 250,000 euros.

"The coronavirus pandemic and Russia's aggressive military actions in Ukraine have significantly increased the construction costs of the project, making it financially unviable without additional support to cover part of the increased costs," the European Commission explained.

The European Commission added that support will also be provided for works on the stadium and sports facilities that are part of the complex, which were not originally foreseen but are necessary for the project to better fulfill its function.

Vilnius Mayor Valdas Benkunskas said that this decision allows the resumption of construction, which has been on hold for a long time.

He emphasized that Brussels' positive conclusion is proof of the project's transparency, despite numerous attempts to discredit it.

Construction of this stadium first began in 1987 – 38 years ago. In 1993, the foundation and supporting structures were preserved, and in 2008, work stopped due to lack of funding.

Lithuanian development company Hanner plans to take control of the project, but this will only be possible after the final resolution of legal issues and approval of the agreement in Brussels.

Hanner owner Arvydas Aulis said that the company is ready to resume the suspended construction of a multifunctional complex with a national stadium in Vilnius immediately after the acquisition.

To finance the construction, a preliminary agreement has already been reached with one of the banks for a loan of 100 million euros.

Thus, work is planned to resume in the summer of 2025. Construction is expected to take 30 months and be completed in 2027.

After construction is complete, Hanner plans to reimburse the previous project developer, BaltCap, for approximately 6 million euros that the company has already invested in preparatory work.

The complex includes 15 facilities, including a football stadium for 18,000 spectators, a sports arena, a conference center, a sports museum, a kindergarten, and other facilities.

• On April 28, it was reported that one of the most expensive stadiums in the world, worth almost $4 billion, would be built in Washington.