FEDF and RDIF to attract foreign investors to the modernization of Khabarovsk airport

The Far East Development Fund (FEDF) and the Russian Direct Investment Fund (RDIF), the sovereign wealth fund of Russia,  will attract investments in the integrated development program for the Khabarovsk airport. A corresponding agreement was signed today in the framework of the Eastern Economic Forum.

The project of modernization of the largest air hub in the Far East is estimated at 17 billion rubles and is implemented in two stages. This year the construction of a new passenger terminal for domestic airlines began. The cost of the project is about 5 billion rubles. The main source of financing are concessional loans provided by the Far East Development Fund (2 billion rubles), Vnesheconombank (1.9 billion rubles). The construction of the new passenger terminal of the airport's internal air lines will be completed in the end of 3Q 2019.

The second stage of the development program, which will exceed 12 billion rubles in investment, involves construction in 2018-2025 of a new international terminal, cargo terminal and commercial AirCity zone. Interest in participating in the project of the complex development of Khabarovsk international airport (New) is shown by a number of foreign investors, with whom RDIF and FEDF already interact.

Alexei Chekunkov, General Director of the Far East Development Fund, said:
"The investments of FEDF and Vnesheconombank in the first stage of the complex reconstruction of the most important Far Eastern air hub allowed not only to launch the construction, but also became a powerful magnet for foreign capital. Today, no one has any doubts that the strategically important hub of the region will be radically updated and in the future will be able to increase not only domestic but also international passenger traffic, as well as the volume of cargo transportation. "

Kirill Dmitriev, CEO of the Russian Direct Investment Fund (RDIF), noted:
“Investments in transport infrastructure are an important direction of RDIF, special attention is paid to projects in the Far East of Russia. Together with a strategic investor from Singapore, RDIF has already invested in Vladivostok International Airport. We intend to use this successful experience for the development of regional transport infrastructure and believe that Khabarovsk airport is an attractive investment destination.”

Konstantin Basyk, Chairman of Board of Directors JSC “Khabarovsk airport”, said: 
“Good realization pace of current priority project – new domestic passenger terminal allows us to proceed to the next stages of airport development. Partnership with leading development institutes – VEB group and inclusion of Russian direct investment fund to the project will significantly strengthen our financial capabilities and will support the successful realization of Khabarovsk airport complex development project within the shortest timeline.”