KAUNAS - The city of Kaunas has announced a major international tender for the design and construction of a 44-million euro sports arena on Nemunas Island.
The contract calls for the winning bidder to design and build the stadium and sport complex in exchange for the right to operate it for 25 years.
"This palace will be adapted for various sports events, exhibitions, fairs and concerts," said Jurate Matekoniene, deputy director of the city's urban development department, adding that the palace should become a major cultural attraction.
Following the expiration of the 25-year contract, the tender winner will transfer management to the local authority free of charge.
Reports earlier indicated that the total value of the palace project would reach some 153 million litas (44.3 million euros).
