7 Jul 2010 17:23

Putin orders determination of financing sources for Vladivostok airport reconstruction

KAVMINVODY. July 7 (Interfax) - Prime Minister Vladimir Putin ordered a final determination by the end of July of the financing sources for reconstruction of Vladivostok's airport.

Putin gave the instruction during a meeting on airport construction and reconstruction in Kavkazskie Mineralnye Vody.

The Vladivostok airport, which is being rebuilt in connection with preparations for the APEC summit, is to be commissioned in the third quarter of 2011. The summit will be held in the spring of 2012.

Putin instructed Deputy Prime Minister Sergei Ivanov to analyze the financing issue and present proposals to the government or to the supervisory board of Vnesheconombank (VEB), which is one of the investors.

The problems with financing the work were voiced at the meeting by Vladivostok Airport General Director Maxim Chetveryakov. The shortfall affects completion of the passenger terminal and surface infrastructure, he said. An agreement has been drafted between VEB and Sheremetyevo Airport, which is the chief project investor, but it has not been signed yet, he said.

The required investment totals 5 billion rubles. Work totaling 1.7 billion rubles has been completed so far.

The airport will take 10-12 years to recoup investment, Transportation Minister Igor Levitin said. Such a project requires a separate decision from VEB's supervisory board, he said.

Putin said the issue must be settled quickly in order not to delay the commissioning. He proposed including the issue on the agenda for the next meeting of the VEB supervisory board, which is scheduled for the end of July.