Today attending the MAKS show event, General Director of JSC "Aeroflot" Mr. Valeriy Okulov, CEO of JSC "Vneshtorhbank" Mr. Andrey Kostin and General Director of JSC "Terminal" Mr. Kirill Budayev have signed a Memorandum of Mutual Understanding on the issue of participation in "Sheremetyevo-3" terminal project.
The above Memorandum is the framework Agreement defining conditions of participation in the project, decision' making procedure and the interaction of future shareholders, as well as the financing procedure. In particular, the memorandum fixes an agreement on the share of Vneshtorgbank in JSC "Terminal" in amount of 25% plus one share.
The Memorandum is open for signing by the other potential shareholders. According to previously made decisions in addition to Aeroflot (30%) and Vneshtorgbank (25% + 1 share), JSC "Sheremetyevo International Airport" and Russian Federation Savings Bank will take part in the project.
JSC "Aeroflot - Russian International Airlines" is the initiator of Sheremetyevo-3 terminal construction to be performed by general contractor Enka, Turkish building company. Completion of construction works is scheduled on the end of 2007.
For information: JSC "Terminal" is 100% subsidiary company of Aeroflot, established in 2004 in order to implement the project of "Sheremetyevo-3" terminal construction.