VTB provides credit to Mineralnye Vody Airport

VTB and Aeroinvest, the management company of Mineralnye Vody International Airport, on November 20 signed a cooperation agreement under which VTB will provide the airport with an RUB 2 billion credit line for a period of nine years. The agreement was signed by Mikhail Oseevskiy, Deputy President and Chairman of VTB Bank Management Board, during his visit to the Stavropol Region. The funds will be used to renovate the arrivals hall at the airport.

«“Mineralnye Vody is one of the fastest-growing regional airports in Russia and a major transport hub in the North Caucasus Federal District. The cooperation agreement was signed at the airport’s new terminal. Its modern passenger-friendly facilities clearly demonstrate that the loans provided by VTB have been used effectively by our partners». Mikhail Oseevskiy, Deputy President and Chairman of VTB Bank Management Board

Aeroinvest CEO Yegor Solomatin said: “We expect that in 2014 the airport’s passenger traffic will increase to 1.9 million people, putting it among Russia’s 15 busiest air hubs. The loans provided by VTB will be used to renovate the domestic and international arrival halls, including a hall for those meeting arriving passengers. The project is scheduled for completion in spring 2016.”