Investments in construction of second stage of Pulkovo Airport estimated at almost 200 billion rubles - St. Petersburg govt

ST. PETERSBURG. Jan 19 (Interfax) - Investments in the construction of the second stage of Pulkovo Airport are estimated at 198.9 billion rubles, a presentation from St. Petersburg Investment Committee Chairman Ivan Skladchikov said.

It was previously reported that investments in the second stage of expansion could exceed 40 billion rubles. The construction is required as the existing terminal is "approaching the limit of its capabilities," CEO of VTB Andrey Kostin said earlier.

A contract for the design of phase "A" has been signed, Skladchikov said.

"I think that the design will be completed in 2024, and then we can begin construction," he said.

As reported, airport operator Northern Capital Gateway LLC, JSC Pulkovo Airport and the government of St. Petersburg signed an additional agreement in February 2023 on the creation, reconstruction and operation of the airport's infrastructure through 2060.

The additional agreement updates a number of conditions of the current public-private partnership (PPP) agreement for the air harbor development project. The agreement specifically refers to plans to build the second stage of Pulkovo. Governor of St. Petersburg Alexander Beglov says the project will be fully financed by private investment to be attracted by Northern Capital Gateway's owners and the city's strategic partner, VTB Group.

Investment in the expansion of Pulkovo Airport totaled 1.2 billion euro. As part of its implementation, the main building of the centralized passenger terminal, the northern boarding gallery, the Pulkovo-1 passenger terminal, station area facilities and the airfield area, and airport engineering systems were either erected or reconstructed.

In 2010, Northern Capital gateway received Pulkovo in a concession for a 30-year period. The company concluded an agreement, which included the possibility of extending the concession period, with St. Petersburg in 2021.

Pulkovo is one of Russia's largest airports. It was previously reported that passenger traffic would increase 10% by the end of 2023 to a record 20 million people. The airport is home base to carrier Rossiya Airlines.