OREANDA-NEWS.  January 20, 2012. The government of the Samara Region and the Renova Group have signed an investment agreement for reconstructing and modernizing the Kurumoch Airport in Samara.

 Samara Governor Vladimir Artyakov said that the airport's modernization is a solid example of a public-private partnership. The investor plans to invest over 12 billion rubles in the development of the Kurumoch Airport. The Samara Government will do everything necessary to ensure the favorable conditions for the partners to carry out work, he said.

 Artyakov added that an aero-express railway will be connected to the airport's new terminal. "We have an agreement with Russian Railways. We will create an aero-express service," he said.

 According to the terms of the investment agreement, a new passenger terminal covering over 35,000 square meters should be built by the end of 2014. This terminal will be able to provide services to 3.5 million passengers a year. As passenger throughput increases the terminal will expand to 60,000 square meters.

 Furthermore, the investment program foresees the construction of a new cargo terminal at the airport, as well as the modernization of its engineering and communications systems. In addition, the facility's administrative buildings and technical servicing facilities will be rebuilt.

 Renova plans to invest over 12.3 billion rubles in 2011 prices for the airport's development, of which 4.3 billion rubles will be invested by the end of 2014.

 It was earlier reported that a decision to declare OJSC Koltsovo-Investor (part of the Renova Group) as the winner of a tender for Kurumoch Airport was made by the tender commission on December 3, 2011. OJSC Koltsovo-Invest manages the Yekaterinburg Airport.