Packaged as a public investment needed at the time of global economic downturn, the National Football Stadium Project was launched on July 21 after the Government approved €69.12 million subsidy for the city earlier this month, news wire TASR wrote.
Prime Minister Robert Fico said that the national football stadium as a large-scale public investment will have favourable impact on Slovakia's economy.
The existing structure at Teheľné Pole will be pulled down to make way for the new stadium. Bratislava mayor Andrej Ďurkovský said that the project was launched following four years of planning and will be conducted in co-operation with the Education Ministry, which is responsible for sports. It will seek contractors via an international tender procedure, according to TASR.
The council will receive the first tranche of the state subsidy of €27.7 million as of 2010. Demolition work at the old structure will begin in April and the project itself in May and will be completed in 2012, wrote TASR.