bnews.kz - EDB transfers another tranche of the loan to reconstruct Pulkovo Airport

Today a consortium of banks, which includes Eurasian Development Bank (EDB), provided another tranche of the loan for the project to reconstruct, develop and operate Pulkovo Airport in St. Petersburg. The size of this tranche to Northern Capital Gateway, project operator, approximates €205 million and EDB’s share is equivalent to almost US $26 million, the press service of the bank reports.

This public-private partnership project is financed, in addition to EDB, by the European Bank for Reconstruction and Development, the International Finance Corporation, the Nordic Investment Bank, the Black Sea Trade and Development Bank, Vnesheconombank and commercial banks. The funds they provide total about €692 million, including EDB’s portion of US $90 million.

The project envisions a large-scale comprehensive development of the airport to increase its capacity and make it an important regional and international hub. The new 176,000 sq m terminal will service up to 25 million passengers a year by 2025. In addition, Pulkovo’s domestic terminal (Terminal 1) will be renovated.

In 2011 Pulkovo was Russia’s third busiest airport by passenger traffic, which reached 9.6 million people.