Fraport AG’s executive board chairman Dr. Stefan Schulte emphasized the exceptional importance of the St. Petersburg concession project for developing, modernizing, and operating the city’s Pulkovo Airport at the “Russia Calling” Investment Forum held in Moscow this week.
“Our participation in St. Petersburg will result in tremendous benefits for both the city and for Fraport, as an airport manager,” stressed Schulte. “The city of St. Petersburg knows that the operation of its airport will be in good hands and that it is ‘landing’ one of the world’s most recognized airport managers in Russia. We intend to maximize the growth opportunities and potential offered by the Russian air transportation market and Pulkovo Airport. Using our Fraport expertise we will further develop Pulkovo into a top destination with high quality standards.”
“Russia Calling” is regarded by international investors as one of the leading forums for developing portfolio investments and strategic partnerships in Russia, despite the effects of the ongoing financial crisis. The forum links more than 300 government representatives, investors, and businesspersons from important Russian and international companies and banks, as well as asset managers. A diverse program of speeches and panel discussions will be presented throughout the three-day event.
For the first time, this year’s “Russia Calling” is being presented in cooperation with VTB Capital, the investment banking arm of VTB Group – Russia’s second largest bank. On Tuesday, Russian prime minister Vladimir Putin took part in an opening event. Other participants included Alexey Kudrin, Russia’s finance minister, and Elvira Nabiullina, the economics minister, along with other high-ranking international businesspersons and politicians.
Under an international tender, the city of St. Petersburg – which is the current owner and operator of Pulkovo Airport – selected the Northern Capital Gateway consortium as preferred bidder at the end of June 2009. The partners in Northern Capital Gateway are Fraport AG with a 35.5 percent share, Russia’s VTB Capital with 57.7 percent, and Greece’s Copelouzos Group with the remaining 7.0 percent. The concession agreement for developing, modernizing, and operating Pulkovo Airport is expected to be signed by the end of the year and will run for a 30-year period.
“The relevant contract negotiations are well underway, and I am very confident that we will reach a mutually-beneficial agreement with the city of St. Petersburg and all parties involved,” explained Dr. Schulte in conclusion.