J&P-AVAX SA announces that its 100% subsidiary PROET SA signed on 04/01/2007 with the non-profit "Mihalis Kakoyannis Institution" a contract for the project titled "New Cultural Centre of the Mihalis Kakoyannis Institution on Piraeus Street", budgeted at eyr;v 9.67 million.
The project pertains to the construction in a central Athens location of a four-storey building plus two underground floors, with a total surface of 6,810 sq.m., which will serve as the Institution''s Cultural Centre.
The building shall include a 314-seat theatre and its backstage facilities, a 115-seat cinema, a 68-seat experimental cinema, exhibition area, three main foyers connecting to the three-storey-high central atrium, an indoor/outdoor restaurant, office space and two underground garages with a total capacity of 53 cars. All theatre and cinema rooms will be fitted with speaker facilities to accommodate conferences and other functions.
Besides all building constructions and electromechanical works, the contract also includes additional studies required to deliver the project on an operating status.
The project is due for completion in 550 days.