Odesa city council in Ukraine has created the joint venture (JV) company, Odesa international airport, for the $250m reconstruction of the airport and revealed that it will increase its share in the new company.
The share of the city council in the charter capital of the joint venture company will increase to 22.1% to UAH102.096m ($12.6m), of the the entire charter capital worth UAH462.096m ($57m).
The rest of the share will be acquired by Odessa airport development.
The city council will also transfer some of the airport’s property to the new joint venture created for delivering project.
The other organistions in the JV include Vienna Airport Austrian Company, Ineco Spanish Company, Ukraeroproekt, Macquarie International Infrastructure Fund, the European Bank for Reconstruction and Development (EBRD) and the Odesa Airport Development Planning Company.
Reconstruction of the existing passenger terminal and building of a new one for $50-60m will be delivered in two phases of 18 months each and the project also involves the construction of a runway for $100-120m.
The airport’s capacity will grow from 800,000 passengers per year to 1.5 million passengers per year, after the first phase and to 3.5-4 million passengers per year after the second phase.
