Public Private Partnership Agreement with the City of St Petersburg and OJSC Pulkovo Airport has been signed
On October 30 Trilateral Public Private Partnership Agreement between the City of St Petersburg, OJSC Pulkovo Airport and Northern Capital Gateway Ltd. Consortium was signed in St Petersburg. The 30 years long Agreement implies reconstruction, development and operation of Pulkovo airport. The document was signed by Andrei Kostin, VTB Bank President and Chairman of the Management Board, Valentina Matvienko, Governor of the City of St Petersburg, Stefan Schulte, CEO of Fraport AG, Dimitrios Copelouzos, Chairman and Managing Director of Copelouzos Group and Andrei Murov, General Director of OJSC Pulkovo Airport.
On June 25 Northern Capital Gateway Ltd. Consortium, consisting of VTB Capital, Fraport AG (the owner and operator of Frankfurt airport) and Copelouzos (investment and business group, Greece) won the open tender for the right to conclude a PPP Agreement with the City of St Petersburg.
On July 16 VTB Group, the Government of St Petersburg and Fraport AG signed the Memorandum of Understanding (MOU) in frames of Russian – German interstate consultations in Munich. The signing ceremony with participation of Andrei Kostin, VTB Bank President and Chairman of the Management Board, Valentina Matvienko, Governor of the City of St Petersburg, and Wilhelm Bender, CEO of Fraport AG, was attended by Dmitry Medvedev, President of the Russian Federation, and Angela Merkel, Chancellor of the Federal Republic of Germany.
Andrei Kostin, President and Chairman of the Management Board, VTB Bank, said: “Pulkovo airport is a gateway not only to St Petersburg but also to the whole country. The implementation of this project will be of great benefit to the Russian economy. It is sure to favor further development of Russia.”
Yuri Soloviev, President and Global CEO at VTB Capital, noted: “Participation in Pulkovo reconstruction for VTB Capital is an important step in the Russian transport infrastructure development support. Such projects are sure to become success stories of implementation of big infrastructure projects in Russia.”
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