Tashkent, Uzbekistan (UzDaily.com) -- Russia’s Gazprombank is considering the possibility of participating in financing the project to modernize Samarkand International Airport.

The agreement on public-private partnership within the framework of the project was signed on 22 September 2021, between JSC Uzbekistan Airports (state partner) and FE LLC Air Marakanda (private partner).

The preparations for the transition to the stage of financial closure have been completed. On February 7 this year, the parties to the agreement fixed the most significant and key conditions for the implementation of the project.

According to the project, Gazprombank is also a financial consultant concerning the financial and commercial aspects of the participation of FE LLC Air Marakanda in the implementation of this initiative.

The total project budget exceeds US$83 million. The project involves the comprehensive development of the airport in Samarkand, the construction of airport infrastructure, as well as their subsequent operation. It is being implemented by one of the largest EPC contractors in Uzbekistan – Enter Engineering.

The launch of the new international passenger terminal is scheduled for the first quarter of 2022. The modernization will gradually increase the airport’s passenger traffic to 1.5 million passengers a year and provide the city with a proper level of reception for the upcoming SCO Summit in September this year.

“Samarkand Airport is of strategic importance for the air transport industry of the country. Undoubtedly, thanks to this initiative, it will reach a new stage of development. The implementation of the project will contribute to the sustainable economic growth of the country, investment attractiveness and prosperity in general. Gazprombank is interested in participating in this project, which promises to be an important event for the public-private partnership market in Uzbekistan”, Alexey Belous, Deputy Chairman of the Management Board of Gazprombank said. 

“Samarkand Airport is an important transport hub in Central Asia for both tourism and transfer flights between continents. The new international passenger terminal will be transformed into a modern tourist hub within the framework of a public-private partnership. An agreement on public-private partnership in civil aviation is concluded in Uzbekistan for the first time. This format of cooperation has justified itself in international practice, since the pooling of the resources of the two parties helps to find new approaches to improving the airport infrastructure. Participation in the project of an investment partner represented by Gazprombank speaks of the huge potential of the developing tourism and logistics sectors of Uzbekistan”, says Gayrat Nematov, Director of FE LLC Air Marakanda.