VEB and FEDF will finance renovation of Blagoveshchensk Airport’s International Terminal

As reported by an Interfax reporter from the ceremony of signing the memorandum of cooperation on the sidelines of the Eastern Economic Forum (EEF 2019) on Wednesday, VEB and the Far East Development Fund (FEDF) will invest RUB 3 bln in renovation of the Blagoveshchensk International Airport (Ignatyevo).

The memorandum was signed by VEB executives, the Amur Region government officials, and representatives of the Far East Development Fund (FEDF). “The renovation has been a pressing concern in five recent years, as the passenger traffic has grown significantly (by 10 times) in Blagoveshchensk. In the meantime, the terminal is unable to accommodate more than 80 passengers per hour. This hinders hampers international flights in the region. The airport remodelling will enhance the passenger service quality and increase the capacity, said Nikolay Tsekhomsky, First Deputy Chairman of the Management Board, VEB, after the instrument was signed.

As was reported, the authorities of the Amur Region hope to use a concession agreement to build up the airport’s capacity for domestic flights by 2.5 times and increase the passenger traffic on international flights to 250,000 passengers per year by 2025. The concessionary is expected to invest RUB 3 bln in the project. The Amur Region’s authorities are supposed to announce a tender to select an investor for renovation of the terminal.