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Monday, 24.04.2017, 10:17
Concession-type PPP contract signed for parking project in Vilnius
The concession tender was launched in May, 2014 and 4 participants submitted preliminary proposals. “The number of participants who submitted proposals have ensured strong competition, allowing the authorities to select the solution that is best suited for the modernization of Santariskes’ car parking infrastructure,” says Tadas Jagminas, director of the Project Management Department at Invest Lithuania, an investment promotion agency. The agency’s PPP team were involved at all stages of the project, acting mainly as strategic and financial advisers to the Ministry of Health of Lithuania.
“As Lithuania’s first parking infrastructure PPP project, this project has contributed valuable lessons and we are glad that it has successfully reached its commercial close,” adds Mr. Jagminas. “This example shows that the parking infrastructure sector in Lithuania is attractive to PPP investors. The lessons learned from this project will be of great importance when preparing similar projects in the future.”