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Sheremetyevo Finds Manager in Asia
Changi Airport of Singapore will become an operator for the new airport terminal building at Sheremetyevo-1, the Moscow Region. Sheremetyevo International Airport and Changi will set up a venture within a month, which will manage the terminal of $250 million turnover.
Sheremetyevo and Changi signed a protocol of intent one of these days, said Sheremetyevo International Airport General Director Mikhail Vasilenko. The protocol spells out creating a venture to manage a new Sheremetyevo-1 terminal. The parties will seal the respective contract within a month once the BOD of Sheremetyevo sanctions the deal.
The ownership of the parties in the new venture hasn’t been disclosed, but the sources say Sheremetyevo will retain the majority stake.
Construction of Sheremetyevo-1 new terminal began in spring and is slated for completion in late this year, so that the facilities could be launched into operation already in January. The area of the terminal building is 48,000 sq meters with the 850-car parking taken into account; the annual capacity is 5 million passengers. German Hochtief is the general contractor for the project, which budget is estimated at $87.7 million.
www.kommersant.com
All the Article in Russian as of July 21, 2006
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