New deadline set for the auction of stake in airport

Published: 2/28/2000

The auction of Sverdlovsk Oblast"s 9.06% stake in Koltsovo Airport will now take place on 30th March 2000. It was originally scheduled for early December 1999, but was cancelled, owing to an insufficient number of applicants. The new deadline for applications has been set for 27th March and the results will be announced in Yekaterinburg on 30th March. The starting price for the entire stake of 21,661 shares has been set at 26.1m rubles ($1.04m): somewhat less than the previously quoted Rb29m ($1.15m). Similarly, the pre-paid deposit has been reduced from Rb5.8m ($232,000) to Rb5.22m ($207,143). 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 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. Associated articles: www.concise.org. 26th August 1999; 20th October 1999

Article ID: 1485