Financed ProjectsPulkovo Airport

Identification Code:

OP/09/0746

Total Operation Cost:

1.193.000.000

Maturity:

180 months

Operation Status:

Description and Purpose of the Operation:

A project finance loan with proceeds earmarked for financing of costs related to expansion, operation and maintenance of Pulkovo Airport in St. Petersburg, Russia. The Operation is the first Russian PPP (public-private partnership) project.

Countries of Operation:

Russia (100,00 %)

Financial Product:

Loans

Sector:

Industrials

Domain:

Private

Borrower/Client:

The Northern Capital Gateway LLC is a limited liability company representing the winning consortium "Northern Gateway consortium" for the construction, operation and maintenance of the Pulkovo Airport.

Co-Financiers/Participants:

EBRD, IFC, Vnesheconombank, Eurasian Development Bank, Nordic Investment Bank, other Commercial Banks and Equity

Guarantors/Sponsors:

The shareholders of Northern Capital Gateway LLC

Developmental and Regional Cooperation Impact:

The Operation will have a strong developmental impact and will result in: - Construction of the auxiliary facilities (hotels, car parks); - Improvement of reliability of traffic in St. Petersburg region and adjacent areas serviced by Pulkovo hub; - Construction of a new Terminal building which will serve both domestic and international passengers; - New jobs creation in St. Petersburg and the city’s adjacent areas; - Mobilization of capital and transfer of advanced technologies due to participation of the foreign consortium members.

Environmental Classification and Impact (summary):

Screened as category B1. Environmental Assessment process identified the following key issues as being relevant to the Project: i) environmental and social management systems; ii) occupational health and safety management; iii) ambient air quality and air emissions; iv) treatment and discharge of wastewater and run-off water; v) solid waste management; vi) subsurface past pollution; vii) noise pollution; viii) fuel and hazardous materials storage and handling; ix) emergency response planning; and x) community health and safety, and consultation. All these issues have been addressed in the Company's Environmental and Social Action Plan which will be implemented during the course of the project and which will significantly increase the general EH&S performance of Pulkovo Airport.

Operation Leader:

General Industries, Transport, Tourism 1

E-mail:

gitt1@bstdb.org