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You're reading: Domodedovo to invest 60 billion rubles in development to 2020

Moscow. July 19 (Interfax) - Moscow's Domodedovo Airport plans to invest 60 billion rubles on development until 2020, board chairman Dmitry Kamenshchik told journalists.

The company reserved $200 million-$250 million for that purpose in 2011. it has invested $1.5 billion in the last 10 years.

Domodedovo is not considering an IPO in 2011. "We are not pressed with the need to work on a share placement, since we don’t have the need to refinance debt," he said.

The airport targets passenger turnover to rise 12% to 25 million people in 2011. Domodedovo handles flights by 77 carriers to 195 destinations, more than Moscow’s other two airports, Sheremetyevo and Vnukovo, he said.

Domodedovo also plans to build a new runway. Design work will be performed in 2011 and construction will begin in 2012. The runway will be completed in 2015, when one of the two existing runways must be taken out of service. That project will cost an estimated 20.4 billion rubles. The airport’s plans have the support of the Finance Ministry and the Economic Development Ministry, Kamenshchik said. Domodedovo ultimately plans to increase the number of runways to nine, which will help increase passenger turnover, especially transfer passengers. The potential for the entire Moscow aviation hub is estimated at 13.5 million passengers a year, or 30% of current traffic at the three airports.

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