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Port special economic zone (PSEZ)

Project at-a-glance

Project highlights
Project indicators
Investment target and overview

Resolution of the RF Government dated 30.12.2009 No.1163 provides for creation in the airport Ulyanovsk Eastern of the first phase of PSEZ with the area up to 120 he with the perspective of development of the territory of the second phase with the area up to 640 he.

Operations proposed to be undertaken in the territory of the PSEZ:

  • repair, technical maintenance, modernization of aircraft, aviation equipment including aviation engines and other components;
  • production of aviation equipment and aviation components;
  • airport and transport-logistic services.

Residents of the PSEA includes 6 companies, 11 more companies have expressed their interest to obtain the same status in the nearest future. 

Total required investment, USD mln
337
Investor's equity capital
Investor's debt capital (by sources)
Budgetary funds (guarantees)
+
Use of proceds
New construction
Yes
Renovation/upgrade of existing assets
Yes
Project design
No
Preferred investment structure
Information about co-investors (names, investment share):
Confirmed
Government of the RF, Government of the Ulyanovsk Region
Potential
Ratio if equity in total capital, %
On September 26, 2013 Resolution of the RF Government No.849 amended Resolution of the RF Government dated 30.12.2009 No.1163 as regard to increase of financing for creation of the infrastructure of the PSEA (up to RUB 6,953 million on account of the federal budget and RUB 3,980 million – on account of the budget of the Ulyanovsk Region)
Project status. Available documents (yes/no)
Business idea
Yes
Preliminary research
Yes
Project feasibility study
Yes
Market research
Yes
Project design documentation
Yes
Financial model
Yes
Business plan
Yes
Project launch and closure, years
2009-2020
Official materials in support of the projects (decrees of either the federal or regional government, letters from local government, provision of incentives, etc.)

Resolution of the Government of the Russian Federation dated 30.12.2009 No.1163 “On creation of a port special economic area in the territory of the municipal formation “Cherdaklinski district of the Ulyanovsk Region”

Resolution of the RF Government No. 849 dated 26.09.2013 (on increase of financing for creation of the PSEA)

Tax benefits for residents of the PSEA under FL-116 “On special economic areas of the RF” 

Key economic indicators
IRR (internal rate if return), %
18
Payback period, years
6,4
NPV (net present value), USD mln
15,6
Implementation status. Information
on available facilities/equipment

As of the beginning of 2014 the following was done within the framework of the work for creation of the PSEZ

  • development of the concept of the PSEZ (2011);
  • preparation of the design of the PSEZ territory;

Design of construction of external communications of the PSEZ: the design documentation underwent state expertise. It is planned to commence construction of the PSEZ infrastructure in the first quarter of 2014.

Agreements were executed with six residents of the PSEZ. The total amount of declared residents’ investments will be RUB 4.8 billion.

First residents of the PSEA will create 1,208 new jobs. 

Comments
Resident name Declared amount
of investments (mln. RUB.)
Project
FL Technics Ulyanovsk LLC 795,9 The center of technical maintenance of aircraft Boeing, Airbus
Volga-Dnepr Technics Ulyanovsk LLC 2 344,0 The center of technical maintenance and repair of aircraft
Aviation Plant Vityaz LLC 457,9 Organization of assembly of aircraft Viking DHC-6 Twin Otter Series 400
AAR-Rus LLC 239,0 Stocking and storage of goods other than excise goods, preparation of goods for sale and transportation (packing, sorting, re-packing, assembly or disassembly, lot division, marking), wholesale of non-excise goods.
Interavionika LLC 795,9 Creation of a production service center:
Production of high-tech on-board radio electronic equipment (OBREE) for domestic and foreign aviation equipment;
Technical maintenance and repair of OBREE within aircraft produced in Russia
PROMTECH-Ulyanovsk CJSC (subsidiary of INDUSTRIAL TECHNOLOGIES CJSC) (Moscow) 240,0 Production of aviation on-board cable networks
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Project ID01/73/14

Region of Russian Federation, Area
Ulyanovsk Region
Sector
Freight & Logistics Services
Parent company/shareholder
OEZ OJSC, Corporation of Development of the Ulyanovsk Region OJSC
Legal address of the shareholder, website

432071, Uliyanovsk, ul. Ryleeva, 41
Corporation of Development of the Ulyanovsk

Position, full name of the CEO
of the shareholder
Director, Sergey Nikolayevich Vasin
Contact person, telephone number
Sergey Nikolayevich Vasin, tel.: (8422) 44 48 39
Last update
09.06.2015
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