Monday, April 24, 2017

Sverdlovsk region to keep stake in Koltsovo airport

The Sverdlovsk regional government announced that will not be selling its 34.56 percent share in the Koltsovo airport in 2013.

Earlier in 2012, the Sverdlovsk regional government planned to sell its stake in the airport valued at more than $68 million, according to RusBizNews.com.

The government has since decided to maintain its stake in Koltsovo in order to attract additional investment. Additionally, the Sverdlovsk regional government wants to maintain partial control of the airport should Yekaterinburg be selected to host the 2020 World Expo to help deal with the increased traffic.

Located in Yekaterinburg, Koltsovo is Russia's fifth-largest airport in regard to passenger traffic. The airport served more than 3.4 million travelers in 2011. Renova Group's Koltsovo-Invest is the airport's majority shareholder with a 50.19 percent stake RusBizNews.com reports.