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. Last Updated: 07/27/2016

EBRD Funds Terminal

The European Bank for Reconstruction and Development has earmarked $8 million for the construction of a cargo terminal at St. Petersburg’s Pulkovo airport.

A loan agreement was signed Tuesday between the bank and Cargo Terminal Pulkovo, a closed joint stock company. The credit has a 10-year term.

The total cost is estimated to be $12.75 million.

GlobeGround, a wholly owned subsidiary of Lufthansa, will manage the terminal when it begins operating in 2002.

The Pulkovo air company and GlobeGround both own 40 percent of Cargo Terminal Pulkovo’s shares, and LenStroiZhilservis owns the remaining 20 percent.