A consortium led by Changi Airports International has been announced as the winner of the tender to acquire shares in Vladivostok International Airport in Russia’s Far East.
The consortium also includes Basic Element, one of Russia’s diversified industrial groups, and Russian Direct Investment Fund.
Changi Airports International is a wholly-owned subsidiary of the world’s leading airport operator Changi Airport Group.
The consortium’s bid was recognised as the best based on the strength of the technical, legal and financial components in the submission.
Lim Liang Song, chief executive of Changi Airports International, said: “We look forward to a strong partnership with Basic Element and RDIF to develop Vladivostok International Airport.
“Vladivostok is the biggest economy in the Far East of Russia and has been identified to be developed as Russia’s strategic gateway to economies in Asia Pacific.
“We see great potential in promoting air connectivity and developing the air traffic between Russia and Asia Pacific.”
Each member will hold an equal share in the consortium.
The transaction will be closed after regulatory approvals are received.
Vladivostok International Airport is strategically important for the development of the air transportation system in the region due to its geographical location – the crossing of two air routes between the Russian Far East and the Asia Pacific region.
In 2012, the aerodrome at Vladivostok International Airport underwent large-scale modernisation and a new terminal construction and is since able to receive all types of aircraft.
The upgraded infrastructure has also enhanced the travelling experience of passengers.
Gulzhan Moldazhanova, chief executive, Basic Element: “We are happy to cooperate with the Russian Direct Investment Fund and Changi Airports International, our long-time partner in airports of the Krasnodar region.
“Basic Element has done a lot for the development of the airports in Krasnodar region and has successfully provided smooth service to the passengers of the Sochi International Airport, the main port of entry to the Winter Olympic and Paralympic Games.
“Together with our partners in the consortium, we will achieve equally impressive results in Vladivostok International Airport by providing highly efficient and smart management, ensuring security, comfort and high standards of servicing aircraft.”