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Rotenberg Company Wins Sheremetyevo North Zone Construction Tender

TPS Avia Holding, a company owned by a group of businessmen including Arkady Rotenberg, has won a tender to develop the north zone of Moscow's Sheremetyevo, outbidding a company affiliated with Victor Vekselberg's Renova, the airport's CEO Mikhail Vasilenko said Monday.

TPS proposed to create a number of joint ventures with the airport and committed to inject $635 million of its own funds, Vasilenko said. Renova promised to invest $2.4 billion of borrowed money.

The winning bid envisages the construction of a terminal capable of handling 15 million passengers annually, a cargo terminal, a refueling point and a tunnel connecting the northern zone with the existing southern zone. Renova proposed to expand the capacity of existing Terminal D by 5 million passengers and construct a new terminal in the northern zone, which would have been able to deal with 7 million passengers. A tunnel connecting the two terminals would have been constructed after 2020.

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