VTB reduces stake in Pulkovo Fueling Complex, city of St. Petersburg becomes new co-owner

ST. PETERSBURG. May 7 (Interfax) - The VTB Infrastructure Holding Company has reduced its stake in Pulkovo TZK LLC from 49% to 24%, and Pulkovo Airport JSC is a new co-owner of the fueling complex (TZK), the Unified State Register of Legal Entities says.

After the changes, 51% of the charter capital of Pulkovo TZK LLC belongs to RN-Aero LLC, 25% to Pulkovo Airport JSC, 24% to VTB Infrastructure Holding LLC.

"The transaction, registered in May 2024, was implemented in accordance with the initial conditions determined by the participants in the project for the construction of the fueling complex," the press service of VTB told Interfax.

The sole owner of Pulkovo Airport JSC is the St. Petersburg City Property Management Committee (now the City Property Relations Committee), the airport's website says.

Construction of the fueling complex at Pulkovo International Airport began in June 2019. Investments in the project are estimated at 3 billion rubles. The design capacity of the complex is 300,000 tonnes of jet fuel.

The PPP agreement between Northern Capital Gateway LLC (operator of St. Petersburg Pulkovo Airport), St. Petersburg and Pulkovo Airport JSC has been in effect since 2010. In accordance with it, Northern Capital Gateway received the right to manage the airport for 30 years, while fulfilling obligations for its large-scale reconstruction.

Pulkovo served 20.4 million people (+12%) in 2023, becoming the second largest airport in the country in terms of passenger traffic after Moscow Sheremetyevo. The airport's base carrier is Rossiya Airlines.