Prague has halted the plan to repair the Industrial Palace for three billion

Prague - Prague has definitively canceled the costly plans to rebuild the Industrial Palace and part of the Exhibition Grounds, which were estimated to exceed three billion crowns. According to information from ČTK, the council today decided to terminate the contract with the architects from Ciegler Marani Architects, who were tasked with developing a project for the reconstruction at a cost of 200 million crowns. Prague wants to find a cheaper way to repair the burned palace, the grounds, and the historic buildings.
    The proposal from Jakub Cigler's office, which previously won the competition, included not only the completion of the palace but also modifications to the surroundings of the monument. The facilities of the palace were to resemble the Louvre in Paris. A pedestrian tunnel would lead people to the Křižík Fountain. However, according to Novotný, this would mean an enormous financial burden for Prague. Therefore, Prague will now discuss less costly options for the repairs.
    The situation around Prague's Exhibition Grounds, which is a protected monument, has been addressed by the city for several years. At the end of last year, the city managed to free itself from a long-term and, according to some opinions, unfavorable lease agreement with the company Incheba. The lessee will vacate the premises at the end of next year. Recently, lawmakers also agreed to a settlement regarding damages for the burned Industrial Palace. The fire that affected it in 2008 caused damages exceeding one billion crowns.
    What will happen next with the dilapidated Exhibition Grounds is not entirely clear. In addition to completing the burned wing of the Industrial Palace, it is necessary to repair several monuments, such as Marold's Panorama or Křižík's Fountain. Some buildings may, on the contrary, be demolished, such as the dilapidated Spirála Theater, according to Novotný.
    Prague can either manage the area itself, which would require an estimated investment of around two billion crowns for the reconstruction of the grounds. Subsequently, besides trade fairs, festivals could also be held at the Exhibition Grounds. Prague can also choose an investor who will operate the area in exchange for the invested money. The decision will depend on the council and representatives' choices.