VTB Bank-led Group Wins St Petersburg Pulkovo Airport PPP Bid

The Northern Capital Gateway Consortium, comprising Russia’s VTB Bank (Russia’s second largest financial institute), Fraport AG (35.5%) and Horizon Air Investments – part of Kopelouzos Group, a.k.a. Copelouzos Group (Greece), which has a minority stake in Athens Airport and interests in marketing Russian natural gas in Greece and in the wider Russian oil industry - has won a 30-year concession for Russia’s Pulkovo Airport. Under the PPP contract with the city of St. Petersburg, which will be signed by the end of 2009, it will focus on constructing a new passenger terminal, expanding ramp areas, developing real estate and modernising the existing airport infrastructure. Two other bidders included a consortium comprising Flughafen Wien, Lider and Gazprombank and another led by Russian aluminium oligarch and billionaire Oleg Deripaska's Basic Element and Singapore's Changi Airport International. [2207 words]

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This report contains the following subheadings:

• “Proves the possibility of...large infrastructure projects in Russia in the current market conditions”
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