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In 2013, the project was completely revised from a national stadium to a multifunctional hub. Since then a new investment project has been prepared by the Central Project Management Agency (CPMA) and the city of Vilnius has held an initial public consultation regarding minimum qualifications, technical specifications and other key tender elements. Currently, the CPMA, together with the project team, continues to draft concession tender documents. It is expected that a preferred bidder will be awarded in 2017.

‘Lithuania has successfully implemented many service concessions in the recreation, sports and entertainment sectors. Such experience shows that we are ready to move up and apply this model to larger projects that are already attracting interest from numerous international investors,” says Tadas Jagminas, Director of the Project Management Department of the foreign investment development agency Invest Lithuania.

The concession term is set at twenty five years. The scope of the project includes at least a fifteen thousand seat stadium and up to 1,500 square meters of space for a sports museum and other educational facilities, as well as commercial facilities. The concessionaire will be responsible for designing, building, maintaining, operating and providing event planning services for public cultural and other events. Government contributions related to the project are capped at 53.4 million euros (44.1 million euros excluding VAT).