The owner of NR Investments, Nat Rothschild, said that there are no legal grounds for the Moldovan authorities to contest the Moldovan airport concession contract and confirmed his willingness to invest more than 150 million euros in its further moderniza
According to his company, NR Investments (NRI) Ltd recently gained control over Chisinau Airport, and today NRI confirms its commitment to channel a significant share of the promised funding this year to a new runway and to further expand and improve its modern terminal in order to create a world-class airport. “From the very beginning, our goal was to fulfill all the agreed terms of the contract with the Republic of Moldova, as we improve the management and daily operation of this expanding airport and contribute to a further increase in the number of passengers,” said Nat Rothschild. However, according to him, in order to do this and allocate the necessary financing, Avia Invest must be sure that its legal owner rights are respected in accordance with the concession agreement, and the constructive cooperation with the Moldovan government on financing assets, the joint work with reliable western banks is another prerequisite for this. “Over the past 5 years, there has been registered a 16% cumulative annual increase in passenger traffic within the Chisinau International Airport against a 3.6% annual GDP of Moldova. This has been achieved through private investment, private management and the dedication of its employees and stakeholders,” said Nat Rothschild. As noted by the owner of NR Investments, the owner of the Chisinau airport concession, Avia Invest, should finance about 72 million euro of capital costs by the end of this year. Another 83.9 million euros of investments will be required when the number of passengers exceeds 3.2 million per year. The total investment (according to the concession agreement) will amount to 242 million euros, which is a significant amount to support and build up an important asset. “Although we understand the interest of both the public and the government in familiarizing themselves with our plans for the concession agreement, we are seriously concerned about the growth of political events around our participation, expressed by government officials. We firmly believe that there are no legal grounds to challenge our concession contract in accordance with the laws of Moldova,” said Rothschild, expressing confidence that “despite the pressure that some in the government may try to exert on the judicial system, the courts will respect the rule of law.”NRI remains open for negotiations in good faith with the Ministry of Economy and Infrastructure to clarify the agreement for the mutual benefit of Moldova, its people and Avia Invest. The company is also ready to use all legal means in Moldova and at the international level, including the exercise of rights in accordance with any applicable bilateral investment agreement, to protect its investment and contractual rights within the Chisinau Airport. // 17.09. 2019 - InfoMarket.