NR Investments pledges development works for Chisinau International Airport

posted on 17th September 2019 by William Hayes
NR Investments pledges development works for Chisinau International Airport

Chisinau Airport owner NR Investments Ltd (NRI) today announced its commitment to direct a significant percentage of this year’s pledged funding toward airport improvements.

The Guernsey-based property investment vehicle, which acquired the controlling interest in the operation of Chisinau Airport last month, said it will allocated funds towards constructing a new runway and upgrading the current terminal.

“Our focus since the outset has been to meet all the agreed upon contract terms with the State of Moldova as we improve the management and day to day operation of this expanding airport and promote continued growth in passenger numbers,” said NRI’s sole beneficiary Nat Rothschild.

In order to do this, and allocate the necessary funding, however, he insisted Avia Invest must have the certainty that its legitimate property rights under the concession contract are respected.

Constructive co-operation with the Moldovan Government to finance the asset, working together with credible western banks, is another prerequisite.

“We recognize that to be an effective and dependable custodian of this vitally important asset requires fresh and open dialogue with all relevant stakeholders on how to realise the airport’s full potential, said Rothschild.

“Those stakeholders include government leaders, the citizens of Moldova, air carriers, and those that use and serve the airport.”

He added that Western banks and financiers, including NRI, would need to have confidence that Avia Invests contractual rights would not be subject to termination or other prejudicial actions by the government on an arbitrary basis, before making substantial investments.