Last year, Saint Petersburg and the Hungarian developer TriGranit agreed to build a new cultural center in the Russian city. The building was planned to create a 80,000 sqm building with room for 1,800 visitors. The building would also have offered a conference center with a capacity for 2,500 people. This year, however, Saint Petersburg pulled out of the agreement, without an offer of compensation for the Hungarian firm. György Kézdy, TriGranit vice-president says the city didn’t reject the entire project, but merely the public-private partnership (PPP) component. He stated that the company is still ready to do the project.
