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Fraport consortium signs airport concession agreement for St Petersburg Pulkovo Airport

2-Nov-2009 8:28 AM

Fraport signed (30-Oct-2009) a 30-year public-private-partnership (PPP) agreement for to develop, reconstruct and operate Russia's St Petersburg Pulkovo Airport, in conjunction with the Northern Capital Gateway consortium, in which Fraport has a 35.5% stake. Partners in the consortium include VTB Bank, with a 57.5% stake, and Copelouzos Group, with 7%. The PPP agreement provides for construction of a new passenger terminal, expansion of apron areas, development of real estate adjacent to the terminal and modernisation of existing infrastructure. An EUR1.4 billion investment in the airport is planned. The consortium will take over operations of the airport in Apr-2010. [more]