30 Oct '09
The St. Petersburg government, a consortium consisting of Russia’s VTB Bank, Germany’s Fraport and Greece’s Horizon Air Investments, and the Pulkovo airport management inked a trilateral agreement earlier today on reconstruction and maintenance of the airport on a private-public partnership (PPP) basis, RIA Novosti reports.
Under original plans, the agreement was supposed to be signed on November 2. The project cost is still $2.1bn as originally estimated, the report says.
Marchmont reported in mid-October plans to build a new terminal in Pulkovo. Construction is reportedly expected to start next year and be completed in 2013.
According to a most recent report, Fraport will be the Pulkovo operator.