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Signing of the investment agreement on implementation of the project on Kurumoch International Airport development took place

17.01.2012

Today, on January 17, in Representative Office of the Government of the Samara region in Moscow, an investment agreement on implementation of the project on construction of a new air terminal complex, reconstruction and modernization of utility systems and services of Kurumoch International Airport as well as on its operation was signed with participation of the Governor of the Samara region Vladimir Artyakov and Chairman of the board of Group of companies “Renova” Viktor Vekselberg.

The agreement was signed by General Director of “Samara Region Development Corporation” OJSC Olga Serova and representative of the investor – General Director of “Koltsovo Airport” OJSC Evgeny Chudnovsky.

In accordance with the conditions of the investment agreement, a new passenger terminal equipped with the most modern technological equipment and having the total area of more than 35 thousand sq. m and capacity of 3.5 million passengers per year will have been built until the end of 2014.

Upon increasing of passenger flow, the terminal will be extended up to 60 thousand sq.m. Within the framework of the investment program, a new cargo terminal will also be constructed and utility systems and services of the airport will be renovated, including construction of a new boiler house and substation. Besides that, administrative buildings, base of aircraft maintenance and ground handling will be reconstructed.

The investor plans to invest more than 12.3 billion rubles (in 2011 prices) to the development of the airport, 4.311 billion rubles of which will have been invested till the end of 2014.

Decision on selection of “Koltsovo-Invest” OJSC (member of GC “Renova”) as a winner of a selection procedure organized by “Samara Region Development Corporation” was made by the committee headed by the Governor of the Samara region on December 3, 2011. “Koltsovo-Invest” OJSC manages the Ekaterinburg airport “Koltsovo”, where the program on creation of the regional aviation hub is being successfully implemented, and the International Airport of Nizhny Novgorod.

Under the conditions of the agreement, special company (“Kurumoch-Invest” CJSC) established by investor with the purpose of the project implementation, will purchase 71.1773 % of “Kurumoch International Airport” OJSC shares that are now held by “Samara Region Development Corporation” OJSC. Samara Region Development Corporation will exercise control over the project implementation until the commissioning of the objects. Only after the fulfillment of all investment obligations the investor will be able to purchase additionally 25.0114% of airport’s shares.

Project on development of “Kurumoch” International Airport has a great social and economic significance for the region. Its implementation will make it possible to increase considerably the capacity of the air terminal, to bring technological infrastructure of the airport in compliance with effective Russian and international requirements and technical capabilities of the airfield.

First of all, citizens of the Samara region and guests of the region, for whom the most comfortable conditions will be created, will benefit from the renovation of the airport. Level of service and safety of passengers in the new air terminal complex will comply with the high world standards.

After renovation, “Kurumoch” airport will become the main aviation hub in Povolzhye, thanks to unique geographical location of the region.

Implementation of the project will facilitate not only the development of infrastructure potential of the Samara region and growth of its investment attractiveness, but also creation of work places. Airport modernization will also become an important stage in preparation for hosting matches of FIFA World Cup 2018 in the territory of the region.

Vladimir Artyakov: “The agreement opens up space for development of transport infrastructure in the region. In fact, we construct new, the most modern airport. It will comply with world standards on the level of technological infrastructure, service and safety of the passengers. We set the goal to make “Kurumoch” airport the largest hub in Povolzhye, its main air gate. I would like to emphasize that reconstruction of the airport is a perfect example of private public partnership. Investor is going to invest more than 12 billion rubles to the airport development. In return, the Government of the Samara region will do its best to create favorable conditions for the work of its partners. I would like to express confidence that our cooperation with “Renova” company will be mutually beneficial and will give positive results”.

Viktor Vekselberg: “Part of GC “Renova” strategy is to participate in infrastructure projects and, in particular, in airport business. We already have airports in Ekaterinburg and Nizhny Novgorod, that is why participation in tender on reconstruction of “Kurumoch” airport was a consequent step for us. Airport is ideally located between two dynamically developing cities Samara and Togliatti which will secure the desirable passenger flow. We are sure that the project will be implemented as per schedule and with utilization of the most advanced technologies. As a result, Samara will have the modern airport that will become a calling card of the region and will reflect its potential”.

Olga Serova: “In order to make today’s conclusion of the agreement possible, The Government of the Samara region and Samara Region Development Corporation carried out a huge amount of work on analyzing the best international and Russian experience in implementation of infrastructure projects. It must be noted that the project on development of Kurumoch airport is the first investment project in the territory of the Samara region that is based on the principles of private public partnership. Signing of the investment agreement is the key, but only the first, stage in this project. Essential role in its implementation has been given to the Corporation that will not only exercise control over fulfilment of investor’s obligations, but also will participate actively in implementation of the project on the part of the Samara region. A long and difficult way of team work is ahead of us”.