Upgrades at the Kazan international airport are expected to start this summer, Tatarstan Prime Minister Rustam Minnikhanov told media today.

Bulgaria’s Khimimport acts as a strategic investor with the commitment to invest in a prospective airport-upgrading JV $50m, RIA Novosti reported today.

Mr. Minnikhanov believes the amount will only be enough to reconstruct the airport’s existing facilities; however, to build new terminals and install state-of-the-art equipment, the investor will have to bring more into the endeavor.

Under plans, the modernization will take two stages. By the end of 2010 the Kazan airport is projected to start serving up to 2 million passengers a year. By March 2013 its capacity is to be boosted to 5 million passengers a year, the report said.

The Kazan airport was built in the 1970s. The Tatarstan government owns 100% of the company.