The Odessa city council’s interim commission that was set up to determine whether the Odessa International Airport LLC, which is the investor in the Odessa international airport, is fulfilling its obligations under an agreement on the principles of corporate governance, held its final meeting on October 28, the press service of the airport said in a press release.
The commission discussed the outcome of its four-month work at the meeting. "It was decided at the end of the meeting that the International Airport Odessa LLC mostly fulfilled its commitments under the Agreement on the Principles of Corporate Governance," the press release states.
The management of the Odessa international airport provided operational and financial data, including budget allocations, information about the progress of the construction of a terminal complex, and information about the existing contractors and general contractors involved in the project, the press service of the airport said.
The International Airport Odessa LLC had financed 64% of the cost of the construction project as of early August 2014. The relevant data is contained in a report by the surveyor, Ukraeroproekt, the press release states.
"The commission confirmed that the parties fulfilled all the conditions relating to the procedure and deadline for creating the share capital of the Odessa International Airport LLC. The Odessa Airport Development LLC made its full contribution to the statutory capital, which amounted to UAH 355,051,647, within the period established by the agreement. The transfer of these funds into the account of the company was confirmed by the appropriate documents, which were provided at the commission’s request," the press release states.
The press release further states that the investor has confirmed that construction of a runway may be financed with funds raised under state guarantee. According to the Cabinet of Ministers resolution No. 930 dated 19 December 2013, the titleholder to the project is the Construction Directorate of the Odessa International Airport, which is under the control of the Ministry of Infrastructure.
“The management of the Odessa International Airport LLC has confirmed the second quarter of 2015 as the planned date of completion of the construction of the terminal, after which Odessa will have a new European terminal at an international airport and excellent airport infrastructure," the press release states.
