Nowy Swiat done; two projects to start
The Siekierki project involves the construction of a new bridge on the southern part of the Wisla river. The cost has not yet been determined; rather it will be established after feasibility studies. The municipality plans to finance the project through municipal bonds. The details of the issue are not yet defined, but it is expected to be sold through a closed offering to select investors.
The second project, the Swietokrzyska route, will involve the replacement of the temporary Syrena bridge, as well as reconstruction of Praga Port on the river's east side.
During its session on May 30, the municipal council approved an offer placed by Elektrim SA, which is going to invest both in the new bridge, a part of the Ćwietokrzyska route and an apartment and service center to be erected in the Praga Port area.
Elektrim, a publicly-listed trade company, will be the main contractor and has signed a letter of intent with the city for the project. The company and the municipality plan to establish a joint-venture company for the project, with Elektrim holding a 51% stake and the municipality holding the remainder.
Elektrim has three months to present a detailed budget and timetable for the project, both of which must be presented to the municipal council for approval.
Both investment projects are in accordance with a city plan passed last November for modernization of existing roads. Overall, the plan calls for replacement of about 60% of existing road surface, construction of new bridges and further development of city transportation.
The second project, the Swietokrzyska route, will involve the replacement of the temporary Syrena bridge, as well as reconstruction of Praga Port on the river's east side.
During its session on May 30, the municipal council approved an offer placed by Elektrim SA, which is going to invest both in the new bridge, a part of the Ćwietokrzyska route and an apartment and service center to be erected in the Praga Port area.
Elektrim, a publicly-listed trade company, will be the main contractor and has signed a letter of intent with the city for the project. The company and the municipality plan to establish a joint-venture company for the project, with Elektrim holding a 51% stake and the municipality holding the remainder.
Elektrim has three months to present a detailed budget and timetable for the project, both of which must be presented to the municipal council for approval.
Both investment projects are in accordance with a city plan passed last November for modernization of existing roads. Overall, the plan calls for replacement of about 60% of existing road surface, construction of new bridges and further development of city transportation.
