OREANDA-NEWS. September 22, 2011. TMM Company and Kyiv Taras Shevchenko National University have confirmed their partnership in realization of Sonyachna brama project, a large-scale residential complex at 73-79 Lomonosova str., Kyiv, by signing a new version of the Investment Agreement, which was approved by the Ministry of Education of Ukraine.

The parties express mutual satisfaction with the achieved results and confidence in their future effective cooperation in relation to construction of the second, third and fourth stages of Sonyachna brama complex. Under the terms of the agreement, commissioning of the whole complex is scheduled for the second quarter of 2014 with a right of preliminary commissioning by separate stages*.

Sonyachna brama, a residential complex under construction, is a mutual investment project of Kyiv Taras Shevchenko National University, acting as an investor and employer, and TMM Company, acting as an investor and general contractor. In 2010 TMM commissioned the first stage** of the complex with the total area of 62 thousand sq m, which makes up 8% of the total area commissioned by construction companies in Kyiv in 2010. Fulfilling its obligations under the agreement, TMM already transferred residential properties with the total area of 4,953.9 sq m in commissioned buildings of the complex to the Kyiv Taras Shevchenko National University.

Sonyachna brama, a complex with the total area of 234,000 sq m, represents a project of a residential micro district with internal infrastructure and comprises 14 residential and 2 office buildings.  The project consists of four stages. The buildings of the second and third stages are currently at the level of monolith frame construction and the fourth stage is at the initial stage of piling field preparation.

Mykola Tolmachov, CEO of TMM: "After a positive resolution of the legal dispute by the Higher Economic Court, TMM and T. Shevchenko National University updated the terms and conditions of the investment agreement concluded back in 2003 and now express mutual intent to successfully complete the project. Thus, in the new version of the agreement we determined the construction terms, project details, volumes of financing and social initiatives of the general contractor. The new version of an investment agreement between T. Shevchenko National University and TMM is a secure basis for the parties' future effective cooperation aimed at realization of Sonyachna brama residential complex, a large-scale project important for the Kyiv community".

* or launch complexes

* hereinafter - "first launch complex" (according to the Compliance Certificate)