Northern Capital Gateway to invest about €50 million in development of Pulkovo airport during 2015-2017 period. It was stated by the CEO of Northern Capital Gateway (managing company of Pulkovo), Sergey Emdin.

The project for development of Pulokovo airport’s infrastructure for 2015-2017 period includes construction of ground handling and maintenance facilities, terminal finger with two additional gates adjacent to «Pulkovo-1» building, two additional jet bridges in the international flights area bordering with the northern terminal finger as well as construction of the high-speed taxiways.

After 2017 Northern Capital Gateway is going to build a new terminal intended for servicing domestic flights and connected to buildings of Terminal-1 and Pulkovo-1, southern and western piers with additional jet bridges and contact stands, new aprons and the second energy center.

The amount of investments in this project is about €400 million, the design works will be started in 2015. The starting date for construction will depend on the passenger traffic, Emdin said.

He also added that the initial investments in the project were €1,2 billion (€700 million – credits granted by foreign banks). This credit line has already been used. The rest investments are as follows: around €400 million – provided by shareholders, the rest €100 million – airport’s own funds.

"We are implementing the project in accordance with the business plan, - CEO of Northern Capital Gateway added. – However, there is significant difference between planned and actual passenger traffic – plus 1 million passengers. There is also difference in fares – they are significantly lower. We have low safety margin, but at the same time there are no significant risks", - Sergey Emdin said.