Wednesday, July 26, 2017

Mostostal stops construction on retail building

Construction work on a retail office building with an underground car park has come to a stop in Yekaterinburg.

The project, contracted to Polish construction company Mostostal-Export, had just reached the final phase of construction work before being stopped on orders from the project's investor ZAO Karneol. The work came to a halt because the investment firm sponsoring the project changed its mind on what it wanted built on the site, EuroBuildCEE.com reports.

The project began in the second quarter of 2009 and was expected to take only 18 months. The building was scheduled for completion in the fourth quarter of 2010, but due to construction delays, the building had only just reached the final phases of construction when work was stopped on the project. The total value of Mostostal-Export's contract was $22.5 million.

Mostostal is a Polish construction company that specializes in steel. The company was founded in 1945 in Krakow, but has since moved its headquarters to Warsaw. The company is known for the construction of the Warsaw Radio Mast in 1970, which remained the world's tallest structure for over 20 years until it's collapse in August 1991.