First phase goes ahead ay Pulkovo (200 words)

Published: 10/10/2000

On the 10th October 2000 Jean Lemierre, the President of the European Bank for Reconstruction and Development (EBRD) signed the long awaited agreement for €9.4m($8m) of funding for the construction of an air cargo terminal at St Petersburg's Pulkovo Airport. According to Lemierre, the Pulkovo Cargo Terminal represents one of the first large privately financed infrastructure projects in Russia and demonstrates “that private-sector capital can be mobilised for significant improvements in transport and logistics.” The 10,700-square-metre terminal will have a handling capacity of up to 35,000 tonnes of cargo a year. A significant increase on the 22,500 tonnes handled by the airport in 1999, which was a third of the volume handled by Moscow's major airport Sheremeteyevo. The second phase of cargo handling development at the airport, will see capacity growing 60,000 tonnes and then a further rise to 90,000 tonnes in the third phase. The terminal will be managed by GlobeGround, a wholly-owned subsidiary of Lufthansa and is a joint venture between GlobeGround (40%) and two local partners: State Unitary Aviation Enterprise Pulkovo (40%) and Lenstrygilservice (LSGS) (20%). LSGS is a Russian construction and planning firm.

Article ID: 2123