Riga City Council plans to take EUR 41 million loan for renovation of Mezaparks Grand Stage

  • 2018-08-21
  • LETA/TBT Staff

RIGA - The local authority of Riga plans to take a EUR 41 million loan (including VAT) from the Treasury in order to complete the renovation of the Mezaparks Grand Stage.

The Riga City Council’s municipal property committee approved the plan on Monday.

The committee’s chairman Olegs Burovs (Honor to Serve Riga) informed that the 30-year interest free loan would cover all the construction and supervision costs related to the renovation of the open-air stage. The dismantling of the existing stage is scheduled to begin in September this year.

The Riga City Council has yet to take the final decision about the Treasury loan.

As reported, LNK, RERE general partnership has won the contract to carry out phase one construction works of the second stage of the Mezaparks Grand Stage renovation and reconstruction for EUR 40.123 million.

This phase of the the Mezaparks Grand Stage renovation project is scheduled for completion by the July 2020 when the open-air stage will become the venue of the Latvian School Youth Song and Dance Celebration.

The first stage of the reconstruction project, which cost EUR 26.74 million, was also carried out by LNK, RERE.