Voglatechnoport Will Develop the Ulianovsk-Vostochny Airport, United Aircraft Corporation (UAC)

Release Date: 2009-01-20

Moscow, December 30. The Board of Directors of the United Aircraft Corporation (UAC) has given approval to foundation of Volgatechnoport. This start-up company will execute control over the Ulianovsk-Vostochny airport.

Today, the Ulianovsk-Vostochny airport system is under the control of Aviastar-SP, a manufacturing plant in the UAC structure that produces Tu-204 passenger and An-124-100 Ruslan heavy freighter aircraft.

UAC will hold a 50% stake in Volgatechnoport. The other half will belong to the Regional architect city-building geo-information service, based in the city of Ulianovsk and a 100% subsidiary of the Ulianovsk region administration. The chartered capital of the new company will amount to 30 million rubles. UAC’s share will be paid for by a direct investment of 15 million rubles.

Volgatechport goal is to attract investments into development of the two airports, the Ulianovsk-Vostochny and the Ulianovsk airport (Ulianovsk Central, localed 3km west of Ulianovsk city). The project participants have applied to the Federal Agency for State Property Management (Rosimushchestvo) to transfer the government-controlled stake in the Ulianovsk airport into ownership of the Ulianovsk region administration in order to control both airports.

The Ulianovsk region administration has won the tender to create the “Volga AviaCargo” special economic zone using the Ulianovsk-Vostochny facilities as its basis. The scope of “Volga AviaCargo” activities will include logistics, services to cargo airlines and operation of cargo terminals to be constructed at the site, among others. Besides, a final assembly line for Eclipse 500 very light jets will be set up in the zone’s territory.

The area of the special economic zone will measure 642 hectares, including a part of the airport. Cargo traffic via Ulianovsk-Vostochny airport is expected to rise from almost 2,000 tons in 2009 up to 27.29 thousand tons and 56.1 thousand tons in 2010 and 2011 respectively.
Type: NORMAL
Company: United Aircraft Corporation (UAC)
 
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