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According to the information provided on the project disclosure page, the IFC is considering providing a follow-on financing to Almaty International Airport (AIA) after IFC’s initial investment (Project #43007) committed in September 2021 to support AIA’s capex program, aimed at rehabilitating and upgrading critical airside infrastructure. This includes: (i) rehabilitation of the existing runway to improve safety, (ii) construction of a new taxiway to reduce aircraft turnaround time, (iii) construction of additional aircraft parking stands and a cargo apron, and (iv) modernization of auxiliary infrastructure.low-on investment to Almaty Airport to enhance aviation safety and passenger comfort.
As stated by the IFC, the total project cost is estimated to be around US$360 million which will be funded by a combination of debt and internally generated cash. The IFC contemplates to provide US$30 million from its own account and mobilize another US$30 million using its Managed Co-Lending Portfolio Program (MCPP)/Credit Insurers. IFC may also provide interest rate swaps.
As stated by the IFC, AIA is majority owned by TAV Havalimanlari Holding A.S. (TAV), with 85% shareholding, and the remaining 15% shares are held by Kazakhstan Infrastructure Fund (KIF), managed by VPE Capital (collectively, the “Sponsors”).
Established in 1997, TAV is a leading international airport operator with more than 22,000 employees and a portfolio of 15 airports along with interests in other aviation related activities such as commercial activities, duty free, catering and ground handling at various airports around the world. Aéroports de Paris owns 46.1% shareholding the company, while 49.9% is listed in Borsa Istanbul. Finally, Tepe Insaat Sanayi A.S. retains 4.1% shareholding.
KIF is a Kazakhstan-focused private equity infrastructure fund, managed by VPE Eurasia GP Limited, which is a special purpose vehicle 100 percent owned by VGL Limited (the holding company for VPE Capital).
| Private Actor 1 | Private Actor 1 Role | Private Actor 1 Sector | Relation | Private Actor 2 | Private Actor 2 Role | Private Actor 2 Sector |
|---|---|---|---|---|---|---|
| - | - | - | - | TAV Airports Holding | Parent Company | Transport |
General IFC Inquiries - IFC Communications:
Address: 2121 Pennsylvania Avenue, NW, Washington DC 20433
Telephone: +1 202-473-3800
Fax: +1 202-974-4384
Parent Company - TAV Havalimanlari Holding A.S.:
Doruk Karabulut - Head of Project and Corporate Finance
Phone: +90 212 463 30 00 / ext. 2113
Email: doruk.karabulut@tav.aero
Address: Vadistanbul Bulvar, Ayazaga Mahallesi, Azerbaycan Caddesi, 2C Blok No:3L/6 34485 Sariyer, Istanbul,
Website: https://tavairports.com/
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