Aviation Media Logo

NEWS Last modified on February 26, 2015

Tender for Vladivostok won by CAI consortium

A consortium comprising the Russian Direct Investment Fund, Changi Airports International (CAI) and Basic Element has won tender to acquire shares in Vladivostok International Airport.

The Russian Direct Investment Fund (RDIF) is a $10 billion fund specifically established to make equity investments into Russian economy.

The wholly-owned international investment arm of Singapore Changi operator, Changi Airport Group, CAI has global interests in Brazil, India and Russia. 

Through its affiliates, Basic Element owns significant stakes in and manages dozens of companies operating in several market sectors, including energy, manufacturing, financial services, construction, aviation, agriculture and others.

Each member will hold an equal share in the consortium.

The consortium's bid was recognised as the best based on the strength of the technical, legal and financial components in the submission. 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.

The airport underwent large-scale modernisation programme in 2012, which included the addition of and a new terminal capaable to accommodating all types of aircraft. 

CAI's CEO, Lim Liang Song, said: “We look forward to a strong partnership with Basic Element and RDIF to develop Vladivostok International Airport.

"It 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 long-term potential in our investment and will work with all parties to develop the airport into an important aviation hub in the region.”

Kirill Dmitriev, CEO of the Russian Direct Investment Fund (RDIF), said: “The unique global and local experience of our consortium partners, CAI and Basic Element, will be crucial for the further development of Vladivostok International Airport. 

"We are glad that four large investment funds from the Middle East including the leading sovereign wealth funds of the region expressed their intention to join this deal as part of RDIF automatic co-investment mechanism.

"With an Open Skies policy in place, this airport has the potential to become a key Russian hub within the Asia-Pacific transportation and logistics network.

"Over 400 million people live within two hours flight of Vladivostok. The transportation hub will promote economic development in the region at every level.”

Basic Element's CEO, Gulzhan Moldazhanova, says: “We are happy to co-operate 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’ll achieve equally impressive results in Vladivostok International Airport by providing highly efficient and smart management, ensuring security, comfort and high standards of servicing aircraft.”

 

Share on social media

Author

Joe Bates

Written by

Email

Article Options

Latest from Joe Bates

Get the Airport World Newsletter!

Email
FIRST NAME
LAST NAME
Follow us on Twitter

8397 peoples are following airportworldmag

THIS WEEKS MOST READ FEATURES