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    The total amount of investments in construction of Yermolino airport will reach 11,3 billion rubles
    Russian Aviaton » Monday February 17, 2014 20:05 MSK

    The total amount of investments in construction of Yermolino airport (Kaluga Region) will reach 11,3 billion rubles. The project will be implemented in 2017 or later, CEO of Yermolino-Invest, Salavat Kutushev, said.

    A certificate for opening of a border checkpoint should be received in 2015-2016, said in a statement published by administration of Kaluga Region.

    The project should be implemented in two stages: according to the project’s business plan, 6.5 billion rubles required in order to complete the first stage, CEO of UTair Aviation, Andrey Martirosov, noted.

    This airline plans to deploy its 30 Airbus A321 and Boeing 737 aircraft at the airport. The carrier is also financing the studies carried out by Yermolino International Airport managing company. The airline will also act as a guarantor for investors willing to invest in the project.

    "UTair is unable to invest in the project in accordance with the antimonopoly legislation", - Martirosov added.

    The tender for selecting the investors will be issued soon after defining the financing structure. Anyway it will be a concession. Yermolino will remain the property of Kaluga Region and will operate as a dual purpose airport.

    "The pool of investors has not been defined yet. The project should reach a breakeven point in 7-9 years after putting the airport into service in 2017", - Kutushev said.

    The Ministry of Defense will allocate 6 billion rubles from its budget for reconstruction of Yermolino airport (1 billion has already been allocated), Commander-in-Chief of the Interior Ministry troops, Nikolay Rogozhkin, noted.

    According to forecasts, the airport’s passenger traffic will increase from 3.5 million passengers to 7.5 million during the period from 2017 to 2021, said in the region’s statement.

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