The government of the Sverdlovsk region to retain control of Koltsovo airport

30.11.2012 — News

SVERDLOVSK REGION

The sale of 34.56% of the shares of Koltsovo Airport, OJSC, currently belonging to the government of the Sverdlovsk region, will not take place in 2013. Earlier there had been plans to tender that block of shares, with opening bids starting at 2.1 billion rubles.

Ekaterinburg's airport is Russia's fifth largest in terms of passenger traffic, serving over 3.4 million travelers in 2011.

Koltsovo's primary shareholder is Koltsovo-Invest, a member of the Renova Group, which owns a 50.19% stake. Experts suggest that Viсtor Vekselberg's organization will not concede the tendered block of shares to other investors.

About 12 billion rubles has been invested in the development of this regional transportation and logistics hub since 2003. Two-thirds of that total came from private investors.

The government of the Sverdlovsk region told RusBusinessNews that in order to attract additional investment, a 34.56% stake should remain in state hands. Koltsovo airport will play a more prominent role if Ekaterinburg is awarded the right to hold the World EXPO 2020, because that would entail a dramatic increase in passenger traffic.