The deal, which was signed by Swedish furniture company IKEA, retailer Mercator, and national railway operator Slovenske železnice, is expected to create around 2,000 new jobs. In order for the project to go ahead, the existing infrastructure will have to be upgraded.

In the past two decades, BTC has invested around 400 million euros in R&D. The new investments, which will see IKEA open its first store in Slovenia, are projected to generate an additional 30 million euros in taxes annually.

BTC’s chairman Jože Mermal said that Šmartinska Street will be expanded to create better access for traffic from Šentjakob, Domžale, Litija, Zagorje, and Trbovlje. He stressed that the new investments will create 2,000 new jobs, and that “the investments are also very important for the state budget, since they will generate around 30 million euros in taxes and fees per year”. Mermal added that Ljubljana will also get an Intermodal Logistics Terminal – ILT Ljubljana.

The Infrastructure Ministry, the Municipality of Ljubljana, and DARS said they would fund the infrastructure upgrades necessary to support the expansion. The details are expected to be hammered out in the near future. “These investments are described in more detail in the agreement we signed. The exact figures will be revealed in the co-financing agreements we expect to sign. The good news is that the investments will happen in late 2017, 2018 and 2019. These investments will be a great boon to BTC,” said Infrastructure Minister Peter Gašperšič.

Zoran Jankovič, the Mayor of Ljubljana, said on the occasion that the deal is a good example of how the public and private sector can work together. He pointed out that BTC is one of the most popular shopping districts in the world, attracting around 21 million visitors per year. He believes this figure will rise to 30 million once IKEA opens its doors.

Sa.J., Robert Škrjanc (Radio Slovenia); translated by D. V.