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. Last Updated: 07/27/2016

Singapore Firm May Run 10 Airports

SINGAPORE -- Singapore's Changi Airports International may manage up to 10 Russian airports in a joint venture with Sheremetyevo, including those owned by Oleg Deripaska, a Russian official said Tuesday.

In August 2006, Changi signed an agreement to manage the new Terminal 1 of Sheremetyevo Airport under a joint venture with the Sheremetyevo Joint Stock Company.

But Changi's interests in Russia spread far beyond Sheremetyevo, Economic Development and Trade Minister German Gref said.

"The Changi-Sheremetyevo joint venture has plans to manage up to 10 Russian airports," Gref said.

"Changi is currently ... acting as a consultant in the reconstruction of [St. Petersburg's] Pulkovo Airport and, maybe, will operate together with a group of southern airports controlled by Basic Element."