The upcoming European Football Championships Euro 2012, which will be hosted by Poland, will lead to an investment boom in Warsaw. The city will be announcing its major tenders early next year, with one already set for this December.
According to Gazeta Prawna, the city is planning to expand its one line metro to a second line. The estimated cost of the development would be 3 bln zloty.
Gazeta Prawna reports Deputy Mayor of Warsaw Jacek Wojciechowski has announced the capital will experience an investment boom as far as tenders are concerned. The biggest projects will be announced next year, with their completions by 2009-2012.
The city is estimating a 4.5 bln zloty cost associated with the Euro 2012 investments. Seven major projects are anticipated, including the new metro line as well as upgrading the Legia Football Club stadium. The remaining five projects are set to improve the infrastructure around the capital at an estimated cost of 1.25 bln zloty.
According to Wojciechowski, as reported by Gazeta Prawna, the upcoming expenditures will be labeled as Euro 2012 investments.
This is a precautionary measure to prevent projects lapsing beyond mandatory deadline for completion and eliminating the possibility of contractors asking for time extensions.
The city of Warsaw will be looking to the biggest construction companies for offers. One contractor will be held responsible for the overall construction. That company will in turn enter into contracts and agreements with subcontractors for the projects’ completion.