Regional government plans to sell part of its stake in Yekaterinburg airport

Published: 10/20/1999

Sverdlovsk Oblast, which owns 25.5% of Koltsovo airport, has put 9.06% of its stake up for sale, representing 21,661 ordinary shares. The starting price for the entire stake is Rb29m ($1.15m). Those interested in participating in the auction of shares are obliged to pre-pay a deposit of Rb5.8m ($232,000). Koltsovo airport, located in Yekaterinburg, is the largest international airport in the Urals and Western Siberia. It has recently upgraded its facilities, using both regional and its own funds, in spite of the economic climate (www.concise.org. 26th August 1999). The airport signed a contract with Aeroports de Paris in June 1997 for the development of an international terminal and says that it is in discussion with the EBRD for funding, although the bank itself does not acknowledge the project. Other shareholders comprise the Russian Federation (25.5%), airport personnel (40%) and private investors (9%). The airport currently ranks third in Russia, in terms of domestic passenger volume, after Moscow's Vnukovo and Domodedovo airports.

Article ID: 986