The first Public-Private Partnership Agreement made April 29 2010, between the Government of Saint Petersburg and Greek investment group Copelouzos, VTB Capital, Fraport AG Company, predicts the operating activity of Pulkovo airport in Russia.
The main goal of the Copelouzos Group and of the other shareholders is to reconstruct and operate a modern airport based on the highest international standards; offering high-quality services to passengers and airlines as well as promoting new destinations exploiting the commercial prospects in order to create a significant international airport hub.
This project is one of the largest and most important infrastructure projects in Russia and Europe as well. Thus, the government of the City of Saint Petersburg and the Russian government decided to include it in the list of strategic development projects of Russia.
The purpose is to re-construct the Northern Capital Gateway – international consortium. In particular, the development of the airport in its first phase requires the construction of a new passenger terminal and airport infrastructure adequate to handle 17 million passengers and maintain IATA level C operational performance.
The Second phase of the project will commence after 2017, and is expected to be completed within 6 years. The total cost of the second phase is estimated at 1.2 billion euros and will be financed from the operational cash flow of the airport.
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