Airport and BasEl Bid on Pulkovo

ST. PETERSBURG -- Singapore's Changi Airports International and Oleg Deripaska's Basic Element holding company will bid for the right to operate St. Petersburg's Pulkovo Airport.

Pulkovo's yearly traffic is forecast to almost triple to 17 million passengers a decade from now, from 6.1 million last year, the companies said Thursday in a joint statement.

"It will be one of the landmark projects in the industry," Changi Airports International chief executive Chow Kok Fong said in the statement. "We expect the field of competitors to be formidable."

St. Petersburg's government opened a competition in April to select private partners for a 30 billion ruble ($1.26 billion) expansion of the airport, the country's busiest outside Moscow. The municipality aims to choose a group of companies to upgrade facilities and run the airport for 30 years.