Prague City Council has approved the selection of the best bid for the long-awaited refurbishment of the Industrial Palace at the Prague Exhibition Grounds. The construction works with an estimated cost of 2.6 billion crowns are to be carried out by a consortium led by Metrostav. The construction works are expected to start before the end of this year with completion in 2024.

The works will include not only re-construction of the left wing that was destroyed in fire in 2008, but also a comprehensive refurbishment of the central part and the right wing. The 2.6 billion-crown project is one of Prague’s largest investments over the past few decades and will restore an invaluable historic monument.