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NEWS

Airport Almaty

www.ifc.org/wps/wcm/connect/corp_ext_content/ifc_external_corporate_site/home
30 October 2020

Project Number:

43007

Country:

Kazakhstan

Environmental Category:

B

Department:

Regional Industry - INF ECA

Sector:

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

Company Name:

ALMATY INTERNATIONAL AIRPORT JSC

Region:

Europe and Central Asia

Status:

Pending Approval

Industry:

Infrastructure

Date SPI Disclosed:

Oct 29, 2020

Last Updated Date:

 

 

Project Description

The Project involves a senior loan of up to USD 150 million from IFC’s own account, a senior syndicated loan of up to USD 100 million and a senior loan of up to USD 50 million from IFC acting in its capacity as implementing entity for the Managed Co-Lending Portfolio Program (“MCPP”). The Project consists of (i) financing the capital expenditure program to modernize Almaty International Airport JSC (“AIA”) and (ii) refinancing of the acquisition of AIA and the associated fuel business entity Venus Trading LLP (“VT,” together with AIA, the “Airport”) from a private party. The capital expenditure program involves a new passenger terminal to address capacity constraints, relocation of VIP terminal, refurbishment of existing AIA terminal, and environmental, health and safety enhancement works such as rehabilitation of infrastructure, installation of a noise barrier, noise insulation program, energy efficiency investments, life and fire safety (LFS) improvements at the existing terminal and airport hotel’s building, which will be converted into the office premises. Construction works are expected to commence in 2020 and be completed over three years. Project Sponsors are TAV Havalimanlari Holding A.S. (“TAV,” 85 percent) and Kazakhstan Infrastructure Fund C.V. (“KIF”) managed by VPE Eurasia GP Limited (15 percent). The Sponsors are currently finalizing the acquisition of AIA from its current private owner.

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