<p>Prague could decide on the completion of the Industrial Palace this year.</p>

Prague - Prague could decide this year on the potential reconstruction of the burned left wing of the Industrial Palace. Whether it will be a replica or a new structure will be determined by the council based on the results of an architectural competition. This competition should be completed this year, said Prague's councilor for property Karel Grabein Procházka (ANO) at today's meeting with journalists. According to him, the replica would cost around 1.5 billion, while a new hall would cost approximately 300 million crowns.

"There will then be an opportunity to compare both options, and it will be up to the city's decision on which path to take. Costs and the usability of the space must also be considered," said the councilor. According to him, the city needs the left wing to be a multifunctional space with the possibility of changing its layout.

The entire exhibition area is a protected historical site. A fire engulfed the Art Nouveau Industrial Palace in October 2008 and destroyed its left wing. Since then, a tent has been standing on the site, originally built for a temporary period of one to two years. Three years ago, the city terminated its lease with the company Incheba, which will organize some events there until 2018.

The area is in poor condition. A major flood in 2002 caused significant damage. The restoration will require about two billion crowns. Some buildings, such as the circular theater Spirála, will be demolished. In contrast, the ice hockey hall will be preserved. The exhibition area by Stromovka was established in 1891 on the occasion of the Jubilee Land Exhibition. The Industrial Palace was originally planned as a temporary structure.