PROJECT

Projects

Environmental & Social Review Summary

Project Number

28218

Company Name

NORTHERN CAPITAL GATEWAY LLC

Date ESRS Disclosed

Mar 5, 2010

Country

Russian Federation

Region

Europe

Last Updated Date

Jun 3, 2021

Environmental Category

B - Limited

Status

Completed

Previous Events

Approved : Apr 20, 2010
Signed : Apr 28, 2010
Invested : Feb 27, 2012

Sector

Other Support Activities for Transportation (Grain Terminals, Cargo Terminals, Airport Operations)

Industry

Infrastructure

Department

Regional Industry INF LAC & EUR

Project Description

The Project is to expand, develop, operate and maintain the Pulkovo airport in St. Petersburg, Russian Federation, the only civil airport in the city and the fourth largest airport in the Russian Federation, serving 6.8 million passengers in 2009. The City of St. Petersburg has privatized the Pulkovo airport under the terms of a Public Private Partnership Agreement (“PPPA”) and awarded the concession to Northern Capital Gateway (the “Company”), a consortium that comprises of VTB Capital, Fraport AG Frankfurt Airport Services Worldwide and the Copelouzos Group, to upgrade, expand and operate the airport for a period of thirty years. According to the PPPA, the Company will make mandatory investments between 2010 and 2013 (Phase 1) for the development and reconstruction of airport infrastructure including aircraft parking aprons, passenger terminal buildings, surface access and expansion of the airport utilities. The Project is estimated at EUR 1.2 billion, the largest component of the investment being the construction of a new passenger terminal building adjacent to the existing Pulkovo 1 building. The design concept involves the full refurbishment and integration of Pulkovo 1 into the new terminal building. The proposed IFC financing is to provide funding to the Company for the construction of a new terminal as well as the refurbishment of existing infrastructure of the airport. It is expected that major construction works will commence in 2010 and be completed by the end of 2013.

Overview of IFC's Scope of Review

The review of this project consisted of appraising the technical, environmental, health, safety and social information submitted by the project sponsor, review of company’s HSE systems audit conducted by third party consultants, and field visit conducted by IFC Social and Environmental Specialist in December 2007. The IFC Environmental and Social Specialist visited the site of the planned expansion of the Pulkovo Airport, conducted meetings with technical specialists from the City of St. Petersburg, Pulkovo Airport, Fraport and Halcrow Group Ltd. In addition, IFC’s Environmental and Social Specialist observed three public meetings on this project that were held in different locations in St. Petersburg in January 2010. IFC reviewed information on the E&S aspects of the existing facilities and discussed plans for ensuring the sustainability of the project with management of the Company.

E & S Project Categorization and Applicable Standard

Environmental and Social Mitigation Measures

Stakeholder Engagement

Client Documentation

File Name Actions
PULKOVO - ESAP - 3-02-2010 FINAL.pdf