Project Details

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Results Chart for Delivery Method and Financing

Delivery Method

DBOM Partially Public Finance
# of Projects: 1
100% of the Results

Background informationProject Created: June 21, 2010

Project Name: New Terminal St. Petersburg Pulkovo Airport
Year in Operation:
Sector: Transportation
Subsector: Transportation Terminal, Airport
Status: Project Definition / Programming
Type: New Facility
Description: New terminal at St. Peterburg, designed to double capacity from 7 million pax per year to 14. The project is being supported by European Bank for Reconstruction and Development, and is claimed to be the first PPP airport project in Russia structured in accordance with "international standards".
Delivery Method as described in the country where it's located: Public Private Partnership
Is the project still active: Yes
Comments: 30 year concession from the City to Northern Capital Gateway, a consorium including VTB Group, Fraport AG, and Horizon Air Investment SA, to rebuild, finance, and operate Pulkovo. The new terminal is a part of the concession.

Project Locations

Address:
City: St. Peterburg
State:
Country: Russian Federation

Address: Pulkovskoye shosse
City: St. Peterburg
State:
Country: Russian Federation

Address: Pulkovskoye shosse
City: St. Petersburg
State:
Country: Russian Federation

Souces of Project Support (Non-monetary)

Checkbox Checked Access to Land: New terminal on existing site of Pulkovo airport.
Checkbox Checked Revenue Stream (Cash Flow) Protected Through Long Term Commitment(s) of Public Sponsor(s): 30 year concession (awarded in 2009) to rebuild, operate, and maintain the entire airport, including right to expand service with new terminal. The new terminal portion of the first phase of the project will serve both domestic and international passengers. Due to be finished in 2013.

Souces of Project Support (Monetary)

Checkbox Checked

From Public (Government) Sources to Producers

Arrow Right
Checkbox Checked

Credit Enhancements

Arrow Right
Checkbox Checked

From Other Public Entities: 100 million Euro direct loan from EBRD with a 15 year maturity. PLUS 190 million Euro commercial bank debt arranged for the project by the EBRD and the IFC (a member of the World Bank group).

Checkbox Checked

From Private Capital Markets Directly to Producers as Debt: Not known how balance of 1.2 billion EURO project cost is being funded. Believed to be a combination of debt and equity from Project Company -- Pulkovo Airport Company.

Checkbox Checked

From Producers as Equity: Not known how balance of 1.2 billion EURO project cost is being funded. Believed to be a combination of debt and equity from Project Company -- Pulkovo Airport Company.

Project Delivery & Finance Method

Project Delivery:
All Public Finance. Public Sponsor contracts for initial design, and separately contracts for initial construction. Public Owner operates and maintains the resulting facility.
Is there an independant checking engineer? No
Project Finance Method: All or Partially By Public Sponsor

Procurement Approach

Project Component
Qualifications
Based Selection
Request for
Qualifications
Request for
Proposals
Invitation
for Bids
Unsolicited
Proposals

Term for Key Components & Forms of Contract

Project Component
Years
Quarters
Combined Term: Initial Design, Construction, O&M Period
30
0
Forms
Description
Regional Bank
Various agreements. EBRD format used with respect to funds provided by EBRD. 

Project Value (If and As Known)

Date of Estimated Project Value: April 28, 2010
Project Value
Hard Cost
Hard & Soft Costs
Total
$500 Million - 2 Billion US
(none)

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