ING in Russia

ING in Russia

Domodedovo Airport Raises Long-Term Finance

8th June 2017, Domodedovo, Moscow Region. Moscow’s Domodedovo Airport has announced that it has signed a loan agreement to fund the installation of an automatic baggage sorting system in the new segment of passenger terminal T2.

ING Bank N.V. is acting as the airport’s lending partner for the project, while insurance cover is being provided by the Dutch export credit agency (ECA) Atradius Dutch State Business N.V. The project will involve funding of up to 58.9 million euros over a period of up to 8 years.

“Export credit finance is the optimal solution for securing deliveries of high-tech equipment. It’s a product that reduces the cost of the equipment and fully reflects our commitment to maximum efficiency in Domodedovo Airport projects,” said Denis Nuzhdin, the airport’s director for external relations and investor relations.

“ING Bank is one of Europe’s top banks in terms of organizing finance for equipment imports guaranteed by the ECAs of leading European countries. We are delighted to have the opportunity to support Domodedovo Airport in its investment programme; we value our partnership with the company, for which we are always ready to find optimal solutions that meet its strategic objectives,” commented Alexey Ievlev, Head of client coverage and member of the Management Board of ING BANK (EURASIA).

After completion of Phase 1 of T2, Domodedovo Airport’s passenger terminal will have a total capacity of over 45 million passengers per year. Commissioning of the new phase of the terminal will coincide with the start of the 2018 football World Cup. As at June 2017, 35% of the planned work has been completed.