Far East | Transport, logistics

Vladivostok airport revamp cost set at $150m

16 Feb '09
The tentative cost of a new Vladivostok airport terminal and its infrastructure has been set at $150m, Interfax reported today, citing CEO of International Sheremetievo Airport Mikhail Vasilenko.

The new terminal with estimated payback of seven to 12 years is to be constructed by the Asia-Pacific Economic Cooperation’s 2012 summit, the report says.

Sheremetievo reportedly intends to invest in construction its own money and loans, and attract investors too, Interfax specified.

According to Mr. Vasilenko, the company is currently in talks with Siemens, Hochtief, and Sumitomo.

In addition to the new terminal, a parking lot for 1,000 cars, a hotel and office premises will be built at the airport, the Sheremetievo CEO said.

In a broader move, runways will be upgraded and new parking for wide-body aircraft and taxiways built, Mr. Vasilenko said. To that end, another $333m in a federal appropriation is expected.

In October 2008, RF President Medvedev decreed to transfer the state-owned 52.16% of International Airport Vladivostok shares to International Sheremetievo Airport’s authorized capital.
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