VILNIUS - A group of Australian businessmen have reportedly agreed to build a 200 million euro horse-racing center near Lithuania's ancient capital of Trakai that would be ready in about eight years.
The hippodrome, to be located 30 kilometers from Vilnius, would be the most modern in Eastern Europe.
"There is no such hippodrome in Eastern Europe, and the hippodromes in Paris and London, which are large and famous, are a bit outmoded. The Lithuanian hippodrome will be modern with the most advanced technologies, for instance, a heated track," said Gintautas Petkevicius, director general of Baltijos Hipodromai (Baltic Hippodromes), a joint Lithuanian-Australian company spearheading the project.
The Lietuvos Rytas daily reported that the entire complex would include race and training tracks, a school for jockeys, coaches and judges, a horse-sales ring, hotel, shops and restaurants. Most importantly, it would provide spaces for up to 1,000 horses. Accommodation for staff and other objects would be built next to the racecourse.
The company is now hoping to gain governmental support for the project. If granted the status of "state importance," the company would be able to take on leased state land for 99 years without a public tender.
Australians are planning to fund construction, which will cover a 454-hectare plot near Trakai.
If approved, the grand project would be implemented in two phases: the first, which is estimated at 340 million litas, should be completed by 2007 so that the hippodrome could host horse races in 2008. The second stage of 360 million litas would be started in 2010 and completed within five years.
The finished complex is expected to turn over 440 million litas annually.
