Rostec and ASG enter JV for EUR208m Moscow Ramenskoye Airport construction

Russia's Rostec announced (14-Aug-2014) a JV with Latvia's Avia Solutions Group called Ramport Aero for the construction of Moscow Ramenskoye Airport. Ramport Aero will undertake a RUB10 billion (EUR208 million) project to modernise the airport by 2016. Ramenskoye Airport is expected to reach traffic capacity of 12 million passengers and 40,000 tonnes p/a by 2021. Rostec deputy CEO said: "Already the Moscow aviation network can barely handle the load, and soon, judging by all forecasts the traffic will increase further. Together with our Latvian partners who have great experience in managing airport projects, we are convinced that works and the resulting airport complex will comply with strictest international standards, taking into account all Russian criteria. The total investment in the project for 2015-2016 is over RUB10 billion, RUB8.3 billion (EUR172 million) of which is sourced from investors. I am sure the new international airport will prove a powerful instrument for development of a national aviation construction centre." Airport construction will proceed in three stages: firstly the first 15,000sqm passenger terminal will be constructed by 2016. Secondly in 2017 a second 30,000sqm passenger terminal will built along with multi-level parking stations and a hotel. In 2019 the first passenger terminal will be expanded to 30,000sqm and a large MRO centre established. [more - original PR - Russian]