On June 3, 2021 in the framework of the St. Petersburg International Economic Forum, the “Northern Capital Gateway”, LLC, a subsidiary of VTB Infrastructure Holding, and the Government of St. Petersburg signed an agreement providing for the further implementation of the investment project to develop Pulkovo Airport. The document was signed by the President and Chairman of the Board of Directors of VTB Bank Andrey Kostin and the Governor of St. Petersburg Alexander Beglov.

The agreement provides for the possibility of extending the term of the concession. The investment project involves the expansion of the terminal facility, taking into account the future growth of passenger traffic, its recovery after a significant reduction due to the epidemiological situation in the world, as well as the construction of the related infrastructure. To perform the construction of airport infrastructure it is planned to obtain funds in the amount of over 40 billion rubles. The parties also agreed to work out the issue of transport accessibility of the airport.

Andrey Kostin, the President and Chairman of the Management Board of VTB Bank, said: “VTB Group has been a long-term partner of the St. Petersburg government and has been implementing large-scale infrastructure projects in the region for many years, based on the principles of the public-private partnership. Pulkovo airport reconstruction project launched in 2010 is the first public-private partnership project in the airport industry in Russia, and one of the first in the transport industry in general. The ongoing development of the project is an important step for VTB Group, as a universal financial partner, developing the socio-economic and tourism potential of the country. Our experience and professional expertise are aimed at creating new opportunities for the development of cities and entire regions”.