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Lithuania's Siauliai earmarks EUR 9 mln to upgrade airport ahead of Termicom investment

BC, Vilniaus, 11.09.2018.Print version
Lithuania's northern city of Siauliai plans to contribute over 9 mln euros to upgrading its airport as it waits for an investment from Termicom, a company of Estonia's aircraft servicing and leasing group Completec, informs LETA/BNS/Lietuvos Rytas.

Under a deal reached back in the spring, the investor pledged to invest at least 10 mln euros in an aircraft maintenance facility in Siauliai Airport and the city committed to contributing 5 mln euros.

It turned out, however, that 5 mln euros will be insufficient. Consultants hired by Siauliai put forward two options, calling for allocating either 7.9 mln euros or 9.4 mln euros. The city council opted for the bigger amount.  

"We'll have a larger apron (...). We expect that our investment will help attract more investors," Antanas Bartulis, director of the municipal administration, said. 

Termicom plans to build a facility for servicing Boeing and Airbus planes in Siauliai Airport, with two aircraft maintenance lines to be set up initially and another four to be added at a later stage.  


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