Project summary document

Project description
and objectives:

Design, construction, operation and maintenance of a new international passenger terminal to be located at Pulkovo Airport, St Petersburg. The project is structured on a build-operate-transfer (BOT) basis. This project was cancelled prior to signing.

Project objectives: Creation of capacity to handle the fast-growing international traffic at St Petersburg. Proceeds of the EBRD loan will be used to finance construction and development costs. Construction and implementation will be monitored by Bank-appointed engineers.

Transition impact:

The project will remove bottlenecks at Pulkovo International Airport and thus facilitate business and tourism flows which will benefit the local economy. The project will also result in the implementation of efficient and market-led operations at the airport.

The client:

JSC International Airport Terminal Pulkovo, a special purpose Russian company. Its main shareholders are State Enterprise Pulkovo, the operator of the St Petersburg airport, the property management committee of the City of St Petersburg and the American sponsors/developers of the project.

EBRD finance:

Senior loan of up to US$ 120 million (ECU 107.1 million), to be syndicated to institutional investors for up to US$ 66 million.

Total project cost:

About US$ 178.5 million (ECU 159.3 million), including interest accrued during construction, plus contingencies of US$ 30.0 million (ECU 26.7 million).

Environmental impact:

The project was screened as A/0, requiring an assessment of the environmental impact associated with the proposed operation. An international consultant was engaged by the sponsor to carry out the study and to prepare an environmental impact assessment (EIA). The report was released by the sponsor for public review and comments on 23 January 1997 in St Petersburg. Copies of the EIA are also available in the Business Information Centre of the EBRD in London and the EBRD Resident Office in Moscow.

The EIA analyses the environmental impact associated with increased noise, water discharge, air emissions, and worker health and safety issues. Mitigation measures are proposed to reduce the negative impact of the construction and operation of the new airport terminal.

An environmental action plan proposed for the project includes the following recommendations:

Aircraft noise control: This can be achieved through the reduction or elimination of night-time operations, the construction of ground-level noise barriers, and the revision of flight tracks to avoid sensitive areas. In addition, it is expected that the overall noise from aircraft operations will decrease due to the change in aircraft mix.

Stormwater quality management: The State Enterprise Pulkovo is committed to building a new stormwater treatment facility for run-off from the new aircraft apron, taxiways and the terminal building of the International Airport Terminal complex.

Air emissions from the boiler house: New gas-fired boilers to be installed at the existing boiler house will have more efficient operations and emission controls.

Erosion control during construction: Silt fences will be put around the construction area. Reclamation and replanting of the disturbed land will be undertaken after the construction works are finished.

Dust control during construction: Water and dust suppressant chemicals will be sprayed on construction sites to minimise airborne dust emissions.

An environmental monitoring programme for the new International Airport Terminal complex will be developed in accordance with the Russian regulatory requirements.

There is an Environmental Impact Assesment available for this project.

Technical
cooperation:

None

For consultant opportunities for projects financed by technical cooperation funds, visit procurement of consultants.

Company contact:

EBRD contact:

Bertrand Millot, Operation Leader: millotb@ebrd.com

Business opportunities:

For business opportunities or procurement, contact the client company.

General enquiries:

EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168; Fax: +44 20 7338 7380
Email: projectenquiries@ebrd.com