MOSCOW, March 29. /TASS/. More than 40 billion rubles ($434 million) will be accumulated in the fund, which is being created to finance the upgrade of airfields until 2030, head the Federal Air Transport Agency, Rosaviatsiya, Dmitry Yadrov told TASS.

"The Fund will accumulate more than 40 billion rubles by 2030," he said. "The funds will be used exclusively for renovation and for construction of modular air terminals - mainly at local airports in the Far Eastern Federal District and in the Arctic," he said.

Earlier on Friday, Minister of Transport Vitaly Saveliev referred to the Russian President Vladimir Putin's task to upgrade at least 75 airfields over six years. A special fund is being created to finance the airports' upgrade, he added.