Lithuania's PPS orders termination of national stadium contract

  • 2020-05-28
  • BNS/TBT Staff
Lithuania's Public Procurement Service has ordered the Vilnius authorities to terminate a 156-million-euro contract on the construction and operation of a national stadium in the Lithuanian capital. In its conclusion, the PPS states that the concession contract should have divided the state and Vilnius municipality's risks but after the project's funding model was changed, they were left with the whole risk, therefore, the contract the Vilnius authorities planned to sign with Axis Industries, part of the Icor group, cannot be deemed a concession contact. &...
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