On July 15, 2024, within the framework of the Caucasus Investment Forum, the head of the Karachai-Cherkess Republic and the General Director of Airports of Regions Management Company signed a concession agreement on creation of the new Arkhyz airport. The agreement was signed in the presence of Alexander Novak, Deputy Prime Minister of the Russian Federation.

Under the agreement, the concessionaire will build from scratch an airport complex in the Karachai-Cherkess Republic, scheduled to be commissioned into operation by the end of 2028. The new airport will be the first in the region, and its launch will be a powerful driver for developing tourism. The airport will significantly reduce travel time to the popular tourist clusters of Arkhyz, Teberda and Dombai.

The CLS team provided comprehensive legal support for the concessionaire at all stages of the project, including drafting the concession agreement and supporting the concessionaire during negotiations with the concessor on approving the text of the concession agreement.

It should be noted that this is not the first agreement the CLS team accompanied – on June 6, 2024, during the 27th St. Petersburg International Economic Forum, the Governor of Omsk Region and the General Director of Airports of Regions Management Company signed a concession agreement on creation of the new airport Omsk-Fedorovka.

To read more about the signed agreement, visit the Airports of the Regions web site.