• Submitted by: Camila
• Business and Economy
• 02 / 27 / 2015

---

Russia is managing partner with the UAE to build a gigantic airport in Cuba. The airport would operate as an international platform for Latin America and eventually North America as well as global connection to the Special Economic Zone of Mariel.

In an exclusive interview with the newspaper, Minister of Commerce and Industry of Russia Denis Manturov, who assists in that capital to the classroom of weapons Idex, revealed that held talks with the company's strategic investments Mubadala Abu Dhabi to make you join the vast project in Cuba. The company has a portfolio of businesses valued at $ 60,000 million.

Manturov confirmed that Russia plans to invest at least $ 200 million in the plan, which would also include participation in the development of the port of Mariel and the construction of a railway line that would link to that special economic zone with the terminal, scheduled to be built on the grounds of the former military base in San Antonio de los Baños.

"We are deeply involved in these negotiations," said the Russian minister. "Cuba is developing a transportation hub from the port and railway to the airport. Just have an international airport and plan to use a military base to build a major aviation hub to Latin America."

A spokesman for the company Mubadala only indicated that "the company is regularly reviewed with their Russian partners a number of different investment opportunities."

The National notes that Russia, hit by international sanctions arising from the conflict in Ukraine, is strengthening its ties with its partners the Middle East, Asia and Latin America.

Construction of the new airport will also benefit the Russian airline Aeroflot, which has been negotiating with the Cuban side the joint operation of an airline that in addition to operate domestic flights, passengers would transfer via Havana to other destinations in Latin America.

Russia plans to install moreover Mariel production companies and plastic hardware and automotive parts.

Abu Dhabi's diary notes that Russia's participation in the airport project in Cuba is part of the proceedings of President Vladimir Putin to write off approximately $ 35,000 million of debt acquired by Cuba since the Soviet era.

In July 2014, shortly before Putin's visit to Cuba, where he signed a dozen cooperation agreements, including related to the new terminal aérea- the Russian Duma ratified an agreement signed last year between Moscow and Havana which provided 90% cancellation of debt of Havana.

Cuba should repay the remaining $ 3,520 million in semiannual installments until 2024. But the funds reimbursed by Russia would be placed in special accounts and reinvested entirely in the Cuban economy.

After the Soviet Union was for decades the main trading partner of Cuba, Russia fell to tenth place, among others displaced by Venezuela, China, Brazil, Spain and Canada.

However, the eve of his arrival in Havana in July 2014, in an interview with state news agency Itar-Tass and Prensa Latina, Putin declared that "we are ready to recover lost opportunities".

Source: Martí Noticias