Arctic Arena project put on ice
Norwegian partners in the Arctic Arena project in Murmansk has decided to put the project on ice. That might mean an end for the grand hotel and business centre plans in Murmansk downtown.
Project manager Birger Johnsen in a meeting with Murmansk Minister of Economic Development Valery Talichkin this week confirmed that the Norwegian investors will freeze their planned engagement in the project. The main reason for the decision is the financial crisis, Mr Johnsen said. The Norwegian were to cover about 30 percent of the 300 million EUR complex which was to include a hotel, a sport stadium, apartments, shops and more.
