Investors sign contracts for Rác spa project

After some years of uncertainty, the Rác Spa Project will eventually be launched in the coming months. The uncertainty surrounding the renovation was due to the repeated awarding, withdrawal, and re-awarding of the Ft 750 million state subsidy. István Kolbach, minister without portfolio has now definitively awarded the money for the reconstruction to the investor Budapest Baths and Spas Rt and to the privately owned Rác Nostalgy Kft. According to Rác Nostalgy CEO Miklós Bornemissza, the minister's letter has only been received by fax, but on reception of the original copy, it will immediately start signing the contracts, and in the next 4-6 weeks, it can start construction. The implementation is to last 18-24 months. The construction company has already been selected but will not be published until the contracts are signed, and the name of the operator has not yet been disclosed. (Vg 5) E.C.