The Strategy-South Company has won an auction and bought 100 percent of shares of Sochi airport for 5,503,665,000 roubles

Thursday, May 19, 2022

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The Strategy-South Company has won an auction and bought 100 percent of shares of Sochi airport for 5,503,665,000 roubles, Prime Tass said Monday. The company that bought the airport represents Russian aluminum tycoon of Oleg Deripaska. The starting price was 3,503,665,000 roubles. Five companies made biddings at the auction, including two under Deripaska's control, two shareholders from Vnukovo airport in Moscow and one bidder from the Renova company. Commenting on the results of the auction, assistant to the Russian minister for trade and economic development Igor Konkov told journalist said that the winner company paid the predicted price. It is a first time that an airport was sold at open auction, Konkov said. Sochi airport situated in the Krasnodar region on Russia's Black Sea coast was created in 1946 on the basis of a Soviet-era military aerodrome as a result of the development of a heath resort zone on Russia's Black Sea coast with Sochi in the center. At present, Sochi airport is one of the biggest in Russia, it has two runways 2.89 and 2.2 kilometers long, a network of taxiing roads with the total length of 4,310 meters, and an airport terminal that handles 750 passengers per hour. The construction of a new airport terminal launched in 1988 was halted in 1994 after financing was withdrawn. In October, 2006 the construction of the new terminal was resumed. In perspective, the new airport terminal will service 27 planes and 2,500 passengers per hour. At present, Sochi airport ranks seventh on the list of 35 biggest airports in Russia, servicing around one million people a year. It is the only airport that services the biggest health resort zone in Russia that runs from the city of Tuapse as far as the border with Georgia. If Sochi is nominated a venue of the 2014 Winter Olympic Games passenger turnover at the peak of the games might total seven million. Next year, a similar auction is planned to sell the shares of Pulkovo airport near St. Petersburg, said department chief of the Russian Ministry for Trade and Economic Development Igor Grechukhin. The privatization of Pulkovo airport is planned at the end of 2007 or beginning of 2008, Grechukhin said.

Bookmark The Strategy-South Company has won an auction and bought 100 percent of shares of Sochi airport for 5,503,665,000 roubles