The governance bodies of State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’ approved the financing of the new Passenger Terminal Construction Project in the Vladivostok International Airport. A credit agreement between the Bank and CJSC Terminal Vladivostok (a subsidiary of OJSC the Sheremetjevo International Airport) is scheduled to be concluded in the near future.

Besides extending credit resources in the amount of 3.6 billion rubles for a period of 15 years in order to reduce the debt burden and upgrade corporate governance procedures, Vnesheconombank is planning to participate in CJSC Terminal Vladivostok’s charter capital through buying out the company’s additional issue in 2010.

The Project aimed at building a terminal with an area of 55 thousand sq. meters and a capacity of 3.5 million passengers a year is being implemented as part of preparations for the Asian Pacific Countries Summit in 2012.

A total amount of capital investments under the project is scheduled to be about 175 million US dollars. The Project’s implementation period is 2009-2011.

The Bank’s participation in major transport infrastructure projects is one of its activity priorities.

Origin: Press Office of Vnesheconombank
Contact person: Ekaterina Karasina
Phone: +7 (495) 608-46-93, Fax: +7 (499) 975-21-34
E-mail: press@veb.ru