OREANDA-NEWS. May 16, 2011. Sviaz-Bank has been named winner of two public auctions held by Sochi International Airport OJSC for a 133 million rubles loan agreement and an agreement on 30.6 million rubles in bank guarantee to be entered into with the highest bidder, reported the press-centre of Sviaz-Bank.

The borrowed funds will be used to repay the borrower’s debts and will be drawn down until the end of 2012. The bank guarantee will be issued to cover the company’s commitments to build a VIP airport terminal in Sochi as a federal project. The guarantee will expire on April 30, 2013.

“The Sochi airport, which is our new customer, is among the biggest airports in Russia, and we have hopes for long-term cooperation with it,” said Sergey Volokhov, Vice Chairman of the Bank’s Management Board. “We are ready to finance the airport’s other projects under construction.”

Sochi International Airport is a member of the Basel Aero airport group. One of the largest among regional airports, it is ranked eighth in passenger traffic in Russia. In 2010, the Sochi airport handled 1.9 million passengers. More than 35 air carriers fly regular and chartered routes from Sochi. Its network of routes comprises over 50 domestic and foreign destinations. Basel Aero Group plans to add more regional routes in 2011 and offer new flights to destinations in CIS countries. It plans to build a boarding pier with ten flexible pathways in 2012.