Gazprombank may finance modernization of Samarkand airport

Gazprombank is considering financing a project to modernize the Samarkand airport, Spot reported referring to the bank’s press service.

Now Gazprombank is acting as a consultant to Air Marakanda on the financial and commercial aspects of the PPP agreement concluded with Uzbekistan Airports in September 2021.

On February 7, the parties fixed the main conditions for the project’s implementation, completing preparations for the financial closure. This PPP agreement was the first in the civil aviation of Uzbekistan, the director of Air Marakanda Gayrat Nematov said.

The project, implemented by Enter Engineering, includes the integrated development of the air harbor, the construction of infrastructure and its subsequent operation. The project budget exceeds $83 million.

As previously reported, the operation of the new airport terminal will begin in the first quarter of 2022. The modernization will make it possible to increase passenger traffic to 1.5 million passengers a year, as well as to host the SCO summit in September at the proper level.

Alexey Belous, Deputy Chairman of the Board of Gazprombank, noted the strategic importance of the Samarkand airport. The implementation of the project will contribute to the growth of the tourist flow, increase investment attractiveness and economic growth in general.

“Gazprombank is interested in participating in this project, it promises to be an important event for the public-private partnership market in Uzbekistan,” Alexey Belous concluded.