Auction planned for August

Published: 7/5/2000

The auction of Sverdlovsk Oblast's 9.06% stake in Koltsovo Airport will now take place on 11th August 2000. It was originally scheduled for early December 1999 and then for the end of March 2000, but was cancelled in both cases due to insufficient interest. The new deadline for applications has been set for 7th August and the results will be announced in Yekaterinburg on 11th August. The starting price for the entire stake of 21,661 shares has been set at 23.49m rubles ($0.83 m), somewhat less than the previously quoted 26.1m rubles ($1.04m) in March 2000 and 29m rubles ($1.15m) in December 1999. Similarly, the pre-paid deposit has been reduced from 5.22m rubles ($207,143) in March 2000 and 5.8m rubles ($232,000) in December 1999 to 4.698m rubles ($170,000). 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 The airport signed a contract with Aeroport de Paris in June 1997 for the development of an international terminal and says that it is in discussions 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: 1912