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ECB set up now but 185-meter building

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The fall in commodity prices make it possible: The European Central Bank will be building in Frankfurt’s East End now but spectacular twin towers. It will start next spring.

Frankfurt am Main – Delayed wants the European Central Bank (ECB) is now but its new premises in Frankfurt am Main to tackle. The Council of Ministers for the Euro central bank decided on Thursday to begin Ostend, in the spring with the main tasks for the two intertwined high-rise towers in the district. Completion is scheduled for 2014.

That the decision now, but for the 500-million-euro turned out new building, located primarily in the last year, dramatically crashed in commodity prices. Steel and cement have become so cheap that the construction of two spectacular 185-meter-high twin towers of the Viennese architectural firm Coop Himmelb (l) au, nothing stands in your way.

"We are beneficiaries of the bursting of the (commodity) bubble," admitted the ECB board member Lorenzo Bini Smaghi. Only a half years, as commodity prices exploded almost wanted to build a general contractor for the given financial framework of the project.

ECB President Jean-Claude Trichet was happy that the place is now sharing the tender in twelve individual packages but now brought to a positive result. The date for the tenders received were within budget.

Mayor Roth euphoric

Currently, the ECB is still housed in cramped conditions in the tower of the former Bank of collectivism (BfG) in downtown Frankfurt. "Our future is based, the new home of the ECB and the euro, in the service of European citizens to stand for our values," Trichet said at the start of construction planned for April. He added: "We look forward to relocate in 2014." The new building will contribute to the development of Frankfurt’s East End, and the main building of the former market hall preserved.

The Frankfurt’s mayor spoke of a decision which was of strategic importance for Frankfurt. "The spectacular towers of the ECB surely become a new landmark of our city. The excellence in architecture will attract world attention," said Roth.

The twin high-rise is a symbolic sign for the future financial center of Frankfurt. In economically difficult times, this probably the largest construction projects in the coming years means within a very short time a huge contract for the regional construction industry.