Investment Agreement on the Development of Magadan Airport Signed

An investment agreement on integrated development and revamping of air transport infrastructure at the region’s main airport has been signed today in the city of Magadan by Magadan Region’s Governor Sergey Nosov, CEO Airports of Regions MC Evgeny Chudnovsky, and CEO Novaport Holding Sergey Rudakov. Director General of Magadan Region Development Corporation Denis Morozov and CEO ABC Magadan LLC Denis Ryazanov also put their signatures.

ABC Magadan (ABC stands for Airports of the Big Country), a joint venture between Airports of Regions MC and Novaport Holding, won an investment tender in December 2020 for the right to modernize the airport. The investor assumed the commitment to build a new passenger terminal with the minimum floor area of 10,000 sq. m, total throughput capacity of 800 passengers an hour, in addition to concomitant infrastructure. The new terminal will be equipped with two boarding bridges and a comfortable business lounge. A parking facility with at least 300 vehicle slots is planned on the square adjacent to the terminal. As per the terms of the agreement, ABC Magadan will also invest in a cargo terminal with the throughput capacity of at least 12,000 tonnes of freights and mail per year.

The architectural solutions as well as the design of the entire cluster and attendant facilities will be developed this year, followed by the selection of a general contractor. The new passenger terminal’s construction will commence in mid-2022, while the completion of construction works and commissioning are slated for Q1 2025.

Vladimir Vysotsky International Airport in the city of Magadan (Sokol) is an airport of national significance located near Sokol settlement, 38 km north of Magadan. It has one runway and ensures regular flights between the Magadan Region and airports of Russia’s Far East, Siberia and Moscow. In 2019 its passenger traffic stood at 426,000 travelers, whereas the cargo traffic reached 9,000 tonnes.