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Reconstruction of New Riga Theater to cost around EUR 31 mln

BC, Riga, 12.04.2018.Print version
The state real estate managing company Valsts Nekustamie Ipasumi (VNI) estimates that the total cost of New Riga Theater reconstruction will amount to approximately EUR 31 million, VNI head Ronalds Neimanis told reporters on April 11th, informs LETA.

Construction cost will be around EUR 21 million, while construction supervision, technologies and equipment, foreign experts' work will cost EUR 10 million.


The New Riga Theater's reconstruction budget confirmed in 2014, EUR 19 million, was not based on any specific reconstruction plan, nor did it take into consideration the site-specific requirements and the theater's needs. That budget is incompatible with the complexity and importance of the project, emphasized Neimanis.


"The budget approved in 2014 would meet the requirements on regional culture centers and be good for a culture center in Adazi or Stopini, while the New Riga Theater reconstruction project is far more complex, both from the construction and technological standpoint," said Neimanis.


"If we want the project to be completed on schedule and in good quality, using modern technology, we, together with the Finance Ministry and Culture Ministry, will have to find a solution regarding the theater's reconstruction budget," explained VNI board member Kitija Gruskevica.


Only two companies have submitted their bids for reconstruction of New Riga Theater, and both are saying that reconstruction of the theater will cost much more than the original EUR 19 million. VNI is now looking at different options. One such option is European Union's structural funds, but it is clear that most of the additional amount will have to come from the state budget, explained Neimanis.


The two bidders are Rere Buve 1 and association BBA Un RT. The procurement commission is now assessing their bids. After the winning bid is selected, reconstruction of the theater could begin in the summer. The project is to be completed by the beginning of 2021.






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