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Contract for reconstruction of Dynamo Central stadium as part of VTB Arena park project is signed.

CJSC Management Company Dynamo, a subsidiary of VTB Bank, developer and investor of VTB Arena park project and VINCI Construction Grands Projets, a subsidiary of VINCI Company, signed the contract for reconstruction of VTB Arena – Dynamo Central stadium. Mr. Andrei Kostin, VTB President and Chairman of the Management Board of JSC VTB Bank explained on the signing ceremony that the choice of foreign contractor for the project is justified by intention to choose the best company specializing in construction of similar facilities. “Apart from guaranteed quality and compliance with deadlines we can be sure of reasonable budget. We hope that all our efforts will be rewarded by high performance of Dynamo team on the stadium of the same name” noticed Mr. Kostin.

VTB Arena park project includes Dynamo Central stadium reconstruction along with construction of Dynamo Sports Academy and multifunctional city center comprising the hotel, offices and apartments in Leningradsky prospekt in Moscow. Right in between the stadium and new construction area there is Dynamo physical education and sports park with a total area of 8 ha.

“In accordance to our estimates payback period of the whole project including commercial part is 9 - 10 years. This is a project of great importance in terms of social and sports aspects. In fact we have managed to design two venues under one roof, in fact even three venues including leisure centre. And we do hope that the payoff period will be as we predicted and bring the forecast revenue”, - stated Mr. Andrei Peregoudov, Senior Vice-President of JSC VTB Bank, VTB Arena park Director during the signing ceremony.

VINCI Construction Grands Projets will be the general contractor responsible for the construction part in liaison with Manica Architecture bureau and SPEECH Tchoban & Kuznetsov architectural bureau which will act as the general designer of the project. In forthcoming months VINCI Construction Grands Projets will develop design and detailed design documentation in such manner as to construct the facility in due time and in accordance with the international sports industry standards. The establishment of the workshop is also underway.

“The above mentioned contract for reconstruction of VTB Arena – Dynamo central stadium has been into force for two years so far and within this time frame the project has undergone significant changes: some things have been removed, some have been simplified. And I can tell you that the initial contract price has been tangibly reduced” – said Alain Bonnot, President of VINCI company.

The solemn foundation stone laying ceremony is planned in the months to come.

The Grand opening date is scheduled for the 22nd of October 2017 and arranged to coincide with Lev Yashin’s birthday anniversary – legendary Dynamo soccer player of the Soviet times. 

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