Vnesheconombank and FEDF Invest in Khabarovsk Airport’s New Passenger Terminal

Vnesheconombank and the Far East Development Fund (FEDF; part of Vnesheconombank Group) will invest as much as 4 billion roubles in a new passenger terminal for domestic airlines at Khabarovsk (New) Airport. The loan agreements were signed on 15 February 2018 during the Russian Investment Forum. As early as a month later, an official ceremony in the presence of Deputy Prime Minister and Presidential Plenipotentiary Envoy to the Far Eastern Federal District Yury Trutnev laid a time capsule and started the construction of the new airport terminal serving Khabarovsk.

“To provide financing for transport infrastructure, including modernising large airline hubs and building and renovating airport terminals is one of Vnesheconombank’s first priorities incorporated into the Development Strategy until 2021. The new passenger terminal will improve passenger service quality and increase passenger traffic. Transport infrastructure development produces a multiplying effect on the economy: creating new jobs, enhancing quality of life, helping Russia to fulfil its potential in tourism, transport and transit. Vnesheconombank sees good prospects for investment projects in the Far East,” Vnesheconombank’s Chairman Sergey Gorkov said.

Vnesheconombank contributed to building and renovating the Sochi airline hub, Terminal D of Sheremetyevo Airport, Samara’s Kurumoch Airport, the passenger terminal of Vladivostok Airport, Saint Petersburg’s Pulkovo Airport and Yekaterinburg’s Koltsovo Airport. Vnesheconombank’s share in airport infrastructure projects currently exceeds 51 billion roubles.

The Khabarovsk (New) Airport development project includes renovating the aerodrome complex and building the terminal infrastructure and the AirCity commercial development area. The airline hub will be able to serve a lot more passengers. Its annual passenger traffic is forecasted to double to 4 million in the next ten years. A total of about 5 billion roubles will be invested in the new terminal with an area of 26,000 square metres. Khabarovsk Airport’s new passenger terminal is due to open in late 2019.

“The start of one more large-scale infrastructure project is an example of a systematic approach to achieving the goal set by Russian President Vladimir Putin, the goal of boosting the Far Eastern economy. As for the runway and aprons, they are all financed under the federal targeted programme. Besides, the project is in the advanced development zone and is given preferential treatment. And financing provided by the Far East Development Fund and Vnesheconombank is the most important. In two years we will see a new modern, comfortable and safe airport terminal with international-class sophisticated facilities,” Deputy Prime Minister and Presidential Plenipotentiary Envoy to the Far Eastern Federal District Yury Trutnev said.

“As the main air gateway, as a capital project and as a large taxpayer, this airport has great significance for the Khabarovsk Territory. Together with the investor, we will work to complete the construction on schedule,” Khabarovsk Territory Governor Vyacheslav Shport said.

“We are now beginning to lay the foundations of a new terminal meeting the latest passenger service standards. We invited bids for construction and selected a contractor with extensive experience in similar projects. The deadlines are tight, but we will meet them,” Chairman of Khabarovsk Airport’s Board of Directors Konstantin Basyuk said.

The project structure is a shining example of implementing the public-private partnership concept. The building site is located in the Khabarovsk Advanced Development Zone. The investor will have tax incentives and other benefits for projects in advanced development zones. The Russian Federation allocated 8 billion roubles for runway renovation under the federal targeted programme Russian Transport System Development (2010–2021). The investor will receive financing of up to 4 billion roubles from Vnesheconombank and the Far East Development Fund.

According to Alexei Chekunkov, CEO of the Far East Development Fund, the project’s approach to government regulation and public funding is innovative: the government approved fares before project completion. This allows investors to predict their return on investment, which is extremely important for long-term investment in infrastructure.

The general contractor will be Limak-Marashstroy. The Turkish conglomerate has extensive international experience in infrastructure construction and completed a greenfield project to build Platov International Airport, serving Rostov-on-Don and created as part of preparations for the 2018 FIFA World Cup.

Press Office