Avia Invest promises to invest €170mn in Chisinau airport

Avia Invest promises to invest €170mn in Chisinau airport
By bne IntelliNews May 15, 2020

Avia Invest, the company that operates the international airport in Chisinau under concession, has promised to pay all its debts and furthermore invest €170mn in the planned new terminal, Deschide.md reported.

The investments will be financed from “a substantial loan” extended by one of the Avia Invest founders, the company announced. Avia Invest was founded by unidentified Russian investors and is currently owned by Andrey Goncharenko through a Cyprus-based investment vehicle. 

Investigative journalist platform Rise Moldova has reported business relations between Goncharenko  and former Moldovan political leader Vlad Plahotniuc. Previously, Avia Invest was managed by people related to Ilan Shor, the visible beneficiary of the $1bn bank fraud in the country that was not prosecuted during Plahotniuc’s regime that ended last summer.

Avia Invest’s statement comes a couple of days after the state authorities prepare to resume efforts to terminate the concession agreement for Chisinau airport.

Separately, Avia Invest reportedly opened a litigation process at the International Centre for Settlement of Investment Disputes (ICSID) in Washington partly related to the decision of the Moldovan government on halving the per-passenger fee collected for investments in the airport infrastructure. The government of Moldova included such a provision in the package of laws aimed at supporting the economy during the coronavirus (COVID-19) pandemic.

Related Articles

World Bank to lend €24.8mn to Moldova for COVID-19 vaccines

The World Bank will approve additional funding for the purchase of anti-COVID vaccines, which was negotiated with Moldova in March, amounting to €24.8mn, announced vice president of the bank for ... more

Moldova’s president signs €13.6mn anti-corruption, human rights reform plan with CoE

The Council of Europe (CoE) launched the Council of Europe Action Plan for the Republic of Moldova for the years 2021-2024 on April 19 in the presence of Moldovan President Maia Sandu and the ... more

EBRD moves to “enforce rights” with regard to Giurgiulesti port in Moldova

The European Bank for Reconstruction and Development (EBRD) announced in a statement that it “is enforcing rights under its financing and security documents” with regards to the shareholding of ... more

Dismiss