Eesti Päevaleht writes that the Ministry of Economic Affairs has applied for investment subsidy of almost 100 mln kroons while Levira that owns the 314-metre-high tower has pledged 16 mln kroons in co-investments.
Aare Siimon, board member of Levira, said that this would bring new life to the structure whose high-level restaurant is currently closed for public because it does not meet fire safety requirements.
“As part of the project we will renovate lifts and solve out the fire safety issue,” said Siimon.
The project is expected to be completed in 2013.
According to the Ministry, the five-hectare territory of the TV Tower could be turned into a theme park, a hobby centre or acquapark so that it forms an integrated complex with the nearby Botanical Gardens.
Also the City of Tallinn has expressed interest in bringing the TV Tower back to public use, but demanded that Levira handed over the TV Tower to the City for free.
Deputy Mayor of Tallinn Jaanus Mutli said that the City remains interested in the project since it is Scandinavia’s highest viewing platform.