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FRANKFURT's Fraport AG and its partners in the Northern Capital Gateway consortium have held a groundbreaking ceremony to mark the start of construction of their new terminal at St Petersburg's Pulkovo Airport.
The event was attended by Russian Prime Minister Vladimir Putin and St Petersburg governor Valentina Matvienko.
Fraport chairman Stefan Schulte said: "Our consortium has reached another important milestone, only seven months after the successful takeover of airport operations at Pulkovo Airport. During the next three years we will witness the development and transformation of Pulkovo into a highly attractive gateway in Northern Europe."
Mr Schulte was accompanied on his trip to St Petersburg by Klaus-Dieter Scheurle, federal parliamentary transport secretary and Frankfurt am Main city treasurer Uwe Becker.
Fraport has a 35.5 per cent holding in the Northern Capital Gateway consortium, which is advancing the development of Pulkovo Airport. The other partners include VTB Bank (50 per cent), Cypriot investor Koltseva Holdings Ltd (7.5 per cent) and Copelouzos Group of Greece with a seven per cent stake in the venture.
Running for 30 years, the airport concession focuses on the first phase of the construction of the passenger terminal to be completed by 2014.
(Source:www.schednet.com)
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