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Construction of the Arena Chişinău multifunctional complex will begin in late August 2018 and will be carried out by Summa Turkish company

Construction of the Arena Chişinău multifunctional complex will begin in late August 2018 and will be carried out by Summa Turkish company

Minister of Economy and Infrastructure Chiril Gaburici and Minister of Education, Culture and Research Monica Babuc informed about this at a briefing, noting that Summa was the only participant in the tender for the selection of a private partner for the construction of the sports and entertainment complex Arena Chişinău and was acknowledged as its winner. The competition was held during May 5 - July 4. Only Summa Turkish company submitted its application for the tender. The special commission for the selection of a private partner for the design and construction of Arena Chişinău on the basis of consideration of all submitted documents on July 13 stated that the Turkish company has the necessary experience and opportunities to implement the project, and all documents meet the established requirements. Moldovan authorities started negotiations with Summa on financial issues related to the construction of the sports arena, following which (after 30 days), concrete figures will be presented regarding the total cost of the project and investments of the Turkish company. The Ministers expressed satisfaction with the fact that for the implementation of such an important project it was possible to find a serious, responsible company that agreed to strict rules and terms of implementation, and is ready to implement the project using the highest standards. It should be noted that Summa Turkish company has been working in Moldova for many years. It was engaged in the reconstruction of the Radisson Blue Hotel (Leogrand Hotel), Shopping Malldova Shopping Center, Medpark - first private medical clinic in Moldova, the building of the Chisinau International Airport, etc. Over the past five years, Summa has implemented more than three construction projects with a total value of at least 30 million euro each, and has experience in the construction of sports facilities (arenas, sports complexes, stadiums) within the framework of PPP. In particular, Summa built sports complexes in Russia and Senegal. As required by the selection criteria, the average annual turnover of the company was above the minimum of 50 million euro in the last 3 years, it also has access to credit lines of at least 50 million euro from banking institutions or any other authoritative financial institutions. It is planned that the winner of the competition will create a special commercial company for Arena Chişinău, with which a contract for the implementation of a PPP for a period of 10 years will be signed. Let's remind, the private partner should provide designing, financing, technical equipment and putting into operation of the sports arena; create a multi-functional zone with a capacity of at least 4000 seats; build a parking for 1 thousand cars, a separate zone for training and small events, a separate area for a covered water park, spa procedures and fitness, an Olympic pool with stands for 500 fans and at least 8 tennis courts, public catering points, etc. It is planned that the return of the private partner's investments will be carried out at the expense of revenues from the operating activities of the arena and their state budget for 10 years in equal tranches. The private partner invests 25% of the planned amount in the first year of implementing the PPP contract. To implement the Arena Chişinău project, a plot of 692224 hectares will be allocated between Chisinau and Stauceni, of which 10 hectares are intended directly for the construction of the arena and all agreed sports zones, parking, catering facilities, etc., and the remaining 59.2 hectares are for guaranteeing obligations of the state to the private partner and for development in the future of this zone. The entire land plot will be transferred to the balance of the newly created state enterprise Arena Naţională with 100% state capital. Earlier it was reported that 202 million lei will be contributed to the company's authorized capital. //16.07.2018 - InfoMarket.

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