The Lithuanian Avia Solutions Group (ASG), which is investing in the construction of Ramenskyoe Airport, has chosen project designers, overseeing the signing of an agreement between Vilniaus Architekturos Studija (VAS), another Lithuanian company, and the Russian company Stroipodryad.
The companies will design a 7,000 square metre passenger terminal. RBK-Daily has reported that they will use Western low-cost airports as models for the design of the airport. Stroipodryad will be responsible for project compliance in line with local regulations, while the Vilniaus Architekturos Studija, the Lithuanian company, will be in charge of design. After the first terminal is completed, another 30,000 square metre terminal will be built before expanding the first terminal an additional 30,000 square metres.
The selection of a general contractor is planned for late spring with construction of Ramenskoye scheduled to begin in the summer. The investment payback period will be about seven years. The first dividend payment is expected in 2015-2016, and by 2020, it is expected to grow to about RUB 800 million.
In December 2013, Avia Solutions Group won a tender announced by TVK Russia (part of Rostec) for investors to participate in the modernization of Ramenskoye. According to RBK, the Lithuanians are prepared to invest RUB 9.3 billion in the project by 2019, with an additional RUB 3 billion from partners for the development of a shopping centre.
The bulk of the profits (up to 70%) will be re-invested into non-aviation aspects of the airport, which will also be home to a shopping centre, parking decks, three office centres, a cargo terminal, an aircraft maintenance centre, and a hotel. According to representatives of ASG, the maintenance costs for airlines at Ramenskoye will be about 40% less than existing Moscow airports.
The airport expects to launch an IPO in 2017. To date, no other airport has placed its shares on a stock exchange.