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VTB Capital wins open tender for Pulkovo airport development

A Northern Capital Gateway consortium consisting of VTB Capital, Fraport and Copelouzos has won the open tender for the right to conclude an agreement on the development, reconstruction

A Northern Capital Gateway consortium consisting of VTB Capital, Fraport and Copelouzos has won the open tender for the right to conclude an agreement on the development, reconstruction and operation of Pulkovo airport in St. Petersburg, Russia.
 
The Northern Capital Gateway consortium will build and put into operation a new modern passenger terminal. The existing airport’s infrastructure will also be reconstructed.
 
The construction of the new terminal and improvement of the adjacent infrastructure will increase the airport’s capacity and will make it possible to turn the airport into an international air-transport hub.
 
The overall amount of investments required for the first stage of the project will amount to EUR1.4bn. EBRD and VEB have already expressed interest in providing credit support to the project.

VTB Group, represented by VTB Capital as one of the investors and financial consultants of the consortium, will take an active part in developing an optimal financing structure in order to secure the most beneficial financing terms and achieve the timely commencement of construction of the new terminal.
 
Fraport will act as the operator of Pulkovo airport and will be responsible for providing a top class service to passengers, attracting new airlines, developing new routes and realising the airport’s commercial potential. Copelouzos Group will bring its experience of investments in European airports to the project.
 
Andrei Kostin, VTB president and chairman of the management board, says: ‘We consider the results of the tender as a strategic success of VTB Group and a key element in supporting development of the Russian infrastructure. In VTB Capital infrastructure capital team we have brought together top-tier professionals with great experience in implementing large-scale complex infrastructure projects worldwide.’

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