AVIASG (ASG): Avia Solutions Group AB signs an investment agreement with TVK Rossiya, part of Rostec - raport 24

UNI - EN REPORT No24/2013

Avia Solutions Group AB has signed an investment agreement with TVK Rossiya, part of Russia's largest ‎state-owned holding company Rostec, for the development and management of the fourth Moscow airport hub on the basis of existing Ramenskoe aerodrome.

Under the agreement, the parties will establish a special purpose company, where Avia Solutions Group AB is required to invest 1 billion RUB (approx. 76 million LTL) into the company's share capital, receiving up to 75% of the company's shares whereas TVK Rossiya, shareholder of the remaining shares, will contribute real estate that is necessary for airport development.

Ramenskoe airport development plan foresees 3 stages all to be completed in second quarter of 2019. Completed project will contain terminal buildings with at least 60 thousand square meters of floor space with passenger capacity not less than 12 million, maintenance facility, cargo terminal, parking places, trading center, hotel and office buildings.