Palma.—Last week, the Balearic Government managed to finally reach an agreement with construction company Acciona to resume work on the project.
The government is going to cover the 356 million euros needed to complete the project itself because it is confident of making that money back in a short period of time by either selling the centre and hotel or from outsourcing the management contract.
The President of the Balearics, Jose Ramon Bauza, is confident that the project will be completed by the end of the year and the Mayor of Palma, Mateo Isern, claims that the new convention complex will put Majorca on the map as a business destination.
Work on the project first began in 2008 and once completed will have cost over 110 million euros to build.
The problem the current government faced when it came to power, was dealing with a 40 million euro debt on the Convention Centre.
That is going to be paid off over the next five years.
Bauza said that work has resumed now because there were a number of more important issues before which needed to be resolved first.