Vyborg continues search for developer (204 words)

Published: 3/23/2001

The tender to sell Vyborg Airport in the Leningrad Region 130 km NW of St Petersburg, formerly known as Vezhevo air force base, announced in October of last year, will not take place on the 27th of March 2001 as planned, due to lack of interest. The starting price for 100% of the airport was Rb29 m ($1 m), with the successful purchaser required to pay within 1 month the airport's debts of Rb26 m ($ 0.9 m) and within 12 months invest $ 25m. The airport was put on the block at the end of 2000, when the regional government declared that it would not commit any further funds to the airport after a number of undeveloped feasibility studies failed to find a viable plan and funding for the airport's development. The most grandiose and most recent being the 1997 $160m proposal from the US Arlis Development Group that failed to find funding. Leaving the airport to become an increasingly unattractive option as its fabric deteriorates. The regional government continues to envisage an airport handling 200-800 tonnes of cargo a day after development.A prospect that is looking increasingly unlikely as the region tries to sell the airport at an even lower price.

Article ID: 2442