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The government approved the agreement on the design and construction of the multifunctional sports complex Arena Chisinau.

The government approved the agreement on the design and construction of the multifunctional sports complex Arena Chisinau.

According to the document, the contract will be concluded between the Ministry of Education, Culture and Research, which is a state partner, limited liability company Arena Naţională (state company for project implementation), the Ministry of Finance, private partner - Summa Turizm Yatirimciliği Anonim Şirketi and a private company for implementation the Sam Investment Company. The private partner undertakes to ensure the design, financing, technical equipment and commissioning of the sports arena; create a multi-functional zone with a capacity of at least 4,000 seats; to build a parking for 1 thousand lots, 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. The Ministry of Education, Culture and Science is authorized to sign a contract on public-private partnership for the construction of a national sports arena and to monitor the implementation of contractual obligations through a monitoring commission established for this purpose. As previously reported, for the implementation of the Arena Chişinău project, was allocated a plot of 69.2224 hectares between Chisinau and Stauceni, 10 hectares of which are intended for the construction of the arena and all agreed sports zones, parking, catering facilities, etc., and the remaining 59.2 hectares - to guarantee the state's obligations 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. It is planned that the investor will send 43 million euros (excluding VAT) to the project, as well as provide a bank guarantee of 2 million euros. The return of 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 12 years in equal tranches. A private partner in the first year of implementing a PPP contract invests 25% of the planned amount. Recall, the company Summa was the only participant in the tender for the selection of a private partner for the construction of sports and entertainment complex Arena Chişinău, and was named its winner. The competition was held from May 5 to July 4. //20.08.2018 - InfoMarket.

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