Construction, Financial Services, Funds, Good for Business, Investments, Lithuania, Markets and Companies, Transport
International Internet Magazine. Baltic States news & analytics
Friday, 26.04.2024, 05:16
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.”