VILNIUS – The City Council of Vilnius on Wednesday approved the administration's national stadium concession contract, giving the green light for implementing the recently stalled 150-million-euro project.
The draft contract was approved with 32 votes in favor, 11 against and one abstention.
The contract is planned to be signed with BaltCap, an investment company that has replaced Icor's Axis Industries following its withdrawal from the project.
The council's approval opens the way for signing the concession contract immediately. Municipal officials say this will be done "in the near future".