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The Central Project Management Agency is overseeing the project.

The multifunctional complex will be built in a 23 hectare territory in Vilnius near trade centre Akropolis. It will be dedicated for education, health care, pre-school education and cultural activities.

The complex should include a kindergarten, conference halls, a business incubator for startups, a public library, 4 artificial surface football fields, a running track with track and field area, track and field training grounds, 3 gyms, accommodation facilities for 100 people, administrative premises, a sports museum, a 1,000-seat hall for cultural events, open-air area for cultural events with a capacity for at least 20,000 people and car parks.

The project will be implemented under public and private partnership. The public sector would take over the property of the complex, except facilities for commercial purposes, after the maximum period of 25 years.

The Government obliged the Central Project Management Agency to prepare the investment project in cooperation with Vilnius City Municipality in 2014.

Prime Minister Algirdas Butkevicius welcomes the fact that the National Stadium and multifunctional complex project in Vilnius will be implemented under a concession agreement.

According to the prime minister, the National Stadium and multifunctional complex will be constructed using several funding sources – EU's regional support appropriations and funds of the facility's operator. A tender will be announced to select the investor.

The prime minister said that the Central Project Management Agency (CPVA) was obliged to prepare conditions of the tender which will then be submitted to Vilnius City Municipality. In turn, the municipality should announce a tender under public and private partnership.

Butkevicius told the journalists on Wednesday that the implementation of the project will be coordinated with the CVPA. The selection of the winner of the international tender will also be harmonised with the CPVA.

Newly elected Mayor of Vilnius, Remigijus Simasius, has given approval for the project.

The outgoing Vilnius City Municipality Council on Wednesday considered the project, which will pave way for the first stadium in Lithuania with a capacity for 20,000 spectators.

Butkevicius had said that the construction of the National Stadium and multifunctional health, education, activity and culture complex in Vilnius could cost nearly EUR 94 million. The project should be completed in 3 years.

The complex would be located near trade centre Akropolis and provide sports education and healthcare services

EUR 29 million was already invested in the stadium. However it is estimated that another EUR 107 million would be needed.