Russian Direct Investment Fund, Basic Element and Changi Airports International consortium completes acquisition of Vladivostok International Airport
Press release, 20.02.2017
Moscow, 22 February 2017 - The consortium comprising Russian Direct Investment Fund (RDIF), Russia’s Basic Element and Singapore’s Changi Airports International (CAI) has completed the acquisition of shares in Vladivostok International Airport in Russia’s Far East from Sheremetyevo International Airport.
Following the completion, the consortium will take over the management of the Vladivostok International Airport. RDIF, Basic Element and CAI each holds an equal interest in the consortium.
The consortium will develop Vladivostok International Airport into a leading aviation hub for domestic and international traffic by strengthening air connectivity and improving its passenger experience.
The airport’s route network extends to over 40 destinations. The consortium plans to add flights to more Russian cities and international destinations in Japan, China, Vietnam and South Korea.
The extensive development and expected economic growth in Russia’s Far East have been drawing interest to the region. Passenger traffic at the airport grew 9% in 2016 year on year and is expected to hit two million this year. The consortium aims to realise the airport’s potential of 5 million passengers per annum in the medium term.
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About Russian Direct Investment Fund
The Russian Direct Investment Fund (RDIF) was established in 2011 to make equity investments alongside leading international financial and strategic investors, primarily in Russia. The fund acts as catalyst for direct investment in Russia’s economy. Additional information can be found at: www.rdif.ru
About Basic Element
Basic Element is one of Russia's largest and most dynamic diversified business groups. Basic Element's companies are controlled by or are within the scope of Oleg Deripaska's business interests. Through its affiliates, Basic Element owns significant stakes or manages dozens of companies operating in several market sectors, including energy, manufacturing, financial services, construction, airport management, agriculture and others. The Group consists of over 100 companies that between them employ more than 200,000 people across Russia, the CIS, Africa, Australia, Asia, Europe and Latin America. Many of Basic Element's companies play key roles in their respective market segments in Russia and internationally, including En+ Group, GAZ Group, Basel Aero and others. Further information is available at www.basel.ru
About Changi Airports International
Changi Airports International (CAI) is a leading consultant, manager and investor in the global aviation market. As a strategic partner, CAI designs integrated solutions that enable its clients and partners to fulfil their potential of being world-class airports.
CAI has extensive global experience that spans over 20 countries in four continents, and more than 50 airports, including Singapore Changi Airport. Some of its projects include Tom Jobim International Airport in Brazil, the very first aerotropolis in India and four airports in the Krasnodar region in Russia.
CAI is committed to being a valued partner in the global aviation market, creating airports of the future and delivering sustainable value to our partners and investee airports. CAI is a wholly owned subsidiary of Changi Airport Group. For more details, visit www.cai.sg
Russian Direct Investment Fund
Maria Medvedeva (Ms)
+7 495 644 34 14, ext. 2141
+7 964 726 17 73 (Mobile)
Irina Pashinkina (Ms)
+7 495 720 5025
Changi Airports International
Teo Lay Cheng (Ms)
+65 6541 1989