KRASNOYARSK, February 16 (RIA Novosti) - Vnesheconombank (VEB) said Friday it will secure a long-term loan worth over $200 million from a consortium of Japanese banks to finance the construction of the Sheremetevo-3 terminal.
The new facility at Moscow's Sheremetevo International Airport, whose construction cost is estimated at $430 million, is to be commissioned in late 2007.
"We are taking a loan from Sumitomo [Sumitomo Mitsui Banking Corporation Europe Limited (SMBC)] for the construction of the third terminal at Sheremetevo airport," said Vladimir Dmitriyev, the bank's CEO, adding that the syndicated loan will be taken for 13 years, and that Sumitomo and Japan Bank of International Cooperation are leading banks in the consortium.
He said the agreement will be signed during Russian Prime Minister Mikhail Fradkov's visit to Japan at the end of February.
In January, VEB bought 20% plus two shares in Terminal, a subsidiary of Aeroflot [RTS: AFLT], established in 2005 to build a third terminal at Sheremetevo.
