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Draft decree to terminate contract with Itera almost ready

MINSK, 25 April (BelTA) – A draft decree concerning the rescission of the contract with Itera to implement the investment project to build the business center Minsk City will be soon submitted to the President of Belarus, Deputy Chairwoman of the Minsk City Hall Zhanna Birich told a press conference on 25 April.

In her words, following the instructions of the Minsk Mayor a task force was set up and all necessary meetings took place last week including at the level of the Council of Ministers with the Itera participation.

The sides reached an agreement to terminate the investment contract with Itera and sign an agreement in line with Directive No.10 to provide compensation of Itera expenses on the utility services. “The Russian company is agreed with the terms. The process of terminating the contract is almost complete. Very soon the document will be submitted to the President of the Republic of Belarus,” Zhanna Birich said.

Zhanna Birich noted that the Minsk City Hall is in talks with new investors for the Minsk City project. “There are several Russian and Iranian companies which may implement the project. If we fail to agree on the issue with these companies, we will have to announce an international tender,” she added.