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Investment Agreement for Kurumoch Development Project Signed

Aninvestment agreement for the Kurumoch International Airportdevelopment project has been signed in Moscowtoday by Olga Serova, General Director of Corporation of Samara Region DevelopmentOJSC, and Evgeniy Chudnovskiy, General Director of Ekaterinburg Koltsovo Airport, as theinvestor’s representative.

Thesigning took place in the Moscowoffice of the Samara Region Government with the participation of Governor ofSamara Region Vladimir Artyakov and Renova Group Board Chairperson ViktorVekselberg. The development project incorporates construction of a new airterminal, overhaul and modernization of utilities of Kurumoch International Airport, as well as itsoperation.

Accordingto the agreement, a new passenger terminal will be built by the end of 2014,with state-of-the-art equipment; its area will be over 35 000 sq. metres andthe capacity, 3.5 million passengers. With growing passenger flows, theterminal will be expanded to 60 000 sq. metres. Also, under this investmentprogram, a new cargo terminal will be built, and the airport’s utilitiesupgraded, including the construction of a new boiler house and a substation.The office buildings, and the handling and maintenance centre will bereconstructed. The investor plans to put over 12.3 billion rubles, at 2011values, into the development of the airport, of which 4.311 billion is to beinvested before the end of 2014.

Koltsovo-Invest,a member of the Renova Group, was declared the winner of the investors’competition by a board headed by the Samara Oblast Governor on 3 December 2011.The competition had been organized by Corporation of Samara Region Development.Koltsovo-Invest runs Ekaterinburg’s KoltsovoAirport, where a program to establisha regional aviation hub is being successfully implemented, as well as Nizhny Novgorod International Airport.

Accordingto the agreement, Kurumoch-Invest, a company set up by the investor speciallyfor this project, will acquire 71.1773% of Kurumoch Airportshares now owned by Corporation of Samara Region Development. Untilcommissioning of the facilities, the project will be supervised by theCorporation, and it is only upon discharge of the investment obligations thatthe investor will be able to buy an additional 25.0114% of the airport shares.

TheKurumoch development project is of a high social-economic importance for theregion. Its completion will substantially increase the airport’s capacity, andbring its equipment into line with the current Russian and internationalregulations and with the technical capabilities of the aerodrome. Themodernization of the airport will benefit, above all, the inhabitants andvisitors of the Samara Region, who will enjoy most comfortable conditions. Thepassenger service and security level in the new terminal will comply with highinternational standards.

Thanksto the unique geo-economic situation, the modernized KurumochAirport will become the main hub ofthe Volga region. The implementation of theproject will not only help to unveil the infrastructural potential of theSamara Region and boost its investment appeal, but also to create new jobs. Theairport modernization will also be an important step in the preparation for theFootball World Cup 2018, some of the matches of which will take place in the Region.

08 December 2011 Kurumoch International Airport has tabulated the results of its business activity for November 2011. The number of passengers on international flights has increased more than 40% compared with the same month last year. 03 February 2012 Kurumoch International Airport has tabulated the results of its business activity for January 2012. International passenger flow on regular flights has reached its maximum mark and has increased by 43% as compared with the same period last year.
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