Changi consortium wins bid for shares in Vladivostok International in Russia

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A consortium consisting of Changi Airports International (CAI), Basic Element and the Russian Direct Investment Fund (RDIF) have won a tender to acquire shares in Vladivostok International Airport in Russia. Each member of the consortium will hold an equal number of shares.

The consortium’s bid was recognized as the best based on the strength of the technical, legal and financial components in the submission. The transaction will be closed following regulatory approval.

In 2012, Vladivostok Airport underwent large-scale modernization program which included the construction of a new terminal. The upgraded infrastructure is now capable of accommodating all types of aircraft.

Kirill Dmitriev, CEO of the 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.”

Gulzhan Moldazhanova, CEO of Basic Element, said, “We are happy to cooperate with the RDIF and CAI, 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.”

Lim Liang Song, CEO of CAI, 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 long-term potential in our investment and will work with all parties to develop the airport into an important aviation hub in the region.”

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Helen has worked for UKi Media & Events for nearly a decade. She joined the company as assistant editor on Passenger Terminal World and since progressed to become editor of five publications, covering everything from aviation, logistics and e-commerce to meteorology. She has a love for travel and property and has redeveloped three houses in three years. When she’s not editing magazines, she’s running around after her two boys and their partner in crime, Pete the pug.

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