News and Press Releases
2010
Nov24
New Pulkovo Airport passenger terminal in St. Petersburg ground breaking ceremony

Ground Breaking Ceremony of the new Pulkovo Airport passenger terminal.

The Prime Minister of the Russian Federation, Mr Vladimir Putin, the Governor of St. Petersburg Mrs Valentina Matviyenko, the President of COPELOUZOS GROUP, Mr Dimitris Copelouzos, the President of VTB Bank, Mr Andrey Kostin and the President of Fraport AG, Dr. Stefan Schulte, participated today in St. Petersburg in the Ground Breaking Ceremony of the new Pulkovo Airport passenger terminal. The development, reconstruction and operation of the airport has been undertaken since April 2010 for 30 years by the joint venture “Northern Capital Gateway”.

The companies participating in “Northern Capital Gateway” are Horizon Air Investments S.A. member of COPELOUZOS GROUP, the German Fraport AG, which manages and operates inter alias the airport of Frankfurt, one from the three largest airports in Europe, and the Russian VTB Capital, member of VTB Group, which constitutes one of the largest states, owned banking groups in Russia.

The Pulkovo International Airport in St. Petersburg is the fourth largest in Russia behind the three Moscow airports and the only one in the broader area. The passenger traffic for 2010 is expected to reach 9 million passengers, increased by 30% in comparison to the previous year and it is anticipated to exceed 40 million passengers by year 2039.

The Project, of € 1.2 billion planned investment, includes the construction of a new passenger terminal, the modernization of the existing airport infrastructure and the construction of new buildings for commercial exploitation, aiming at creating a modern airport of the highest international standards, capable to serve the increased needs of the fast developing St. Petersburg area.

The financing of the Project will take place through Project Finance by a consortium of fourteen large international financing institutions and banks headed by EBRD and IFC.

COPELOUZOS GROUP already participates in the share capital of Athens International Airport and the investment in Russia constitutes another step in the series of the Group’s investments in airport development projects in Greece and in Europe.

From left to right: The President of Fraport AG Dr. Stefan Schulte, the CEO of the NGC Consortium Mr. Sergey Emdin, the Governor of St. Petersburg Mrs Valentina Matviyenko, the Prime Minister of the Russian Federation Mr. Vladimir Putin, the President of VTB Bank Mr. Andrey Kostin and the President of COPELOUZOS GROUP Mr. Dimitris Copelouzos.

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