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3 Tycoons Bidding for Sheremetyevo Terminal

Three Russian tycoons are bidding against each other for the lucrative project to redevelop Sheremetyevo Airport's Northern Terminal Complex, a news report said Tuesday.

Applications have been submitted by Transstroi, Renova and TPS Avia Group, the airport's communications manager said.

Oleg Deripaska is Transstroi's main shareholder, while fellow magnates Viktor Vekselberg and Arkady Rotenberg own controlling stakes in Renova and TPS Avia Group respectively.

The plans involve building a new terminal that can cope with 40 million passengers per year as part of the airport's development plan that runs until 2030.

The investor will initially have to build a complex for 10 million passengers per year on the site of Terminal B, as well as an underground tunnel to connect the north and south of the airport, Kommersant reported.

The project's completion date must coincide with that of the third runway, the airport said in a statement.

The project organizers, including members from the board of directors and specialists from the Transportation Ministry and the Federal Property Management Agency, will assess the applicants and produce a shortlist of candidates on Friday.

The applicants must have a clean professional record, without "administrative suspension of activities notices" and be able to meet the budget and salary requirements on schedule.

At this stage it is hard to predict who will not win the project, Sergei Kazakov from Sameta legal firm said.

Two of the contenders already have business interests at Sheremetyevo.

Transstroi is currently managing the construction of the third runway, while TPS Avia controls parking at the airport.

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