Aviation News
- Shenzhen Airport, Changi in venture
Date: 19-Jul-2007 Sources: (Shenzhen Daily)
SINGAPORE'S Changi Airports International said yesterday it has formed a joint venture with Shenzhen Airport Group to invest in and manage up to 50 airports in China.
Changi Airports said it will hold a 49 percent stake in the joint venture and Shenzhen Airport will hold the rest.
A spokesperson from Changi Airports International said that the operators are targeting up to 50 airports in China that each receives between 3 million and 5 million passengers annually.
The spokesperson declined to specify the size of the initial investment or any financial targets.
Changi Airports already has a 29 percent stake in Nanjing Lukou International Airport.
It also has airport consultancy projects with China's Chengdu and Qingdao airports.
Shenzhen Airport Group owns 54.6 percent of Shenzhen-listed Shenzhen Airport Co.
Changi Airports chief executive Chow Kok-fong said that China's total passenger traffic volume reached 320 million people in 2006 and is expected to grow by 15-20 percent per year over the next decade.
Shenzhen Airport Group wasn't immediately contactable for comment on the venture.
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