by Reuters
SINGAPORE: Singapore's Changi Airports International aims to spend up to $700 million within the next five years on stakes in 10 to 15 airports in the region to strengthen its Asian presence, its chief said on Saturday.
"Over the next three to five years, we hope to spend roughly $600-700 million ... We're working on five regions: China, India, the Middle East, Russia and Vietnam," Chief Executive Chow Kok Fong told media.
Changi Airports already has a presence in China, Russia and India. It paid $138 million last January for 29 per cent of China's Nanjing Lukou International Airport, and has management contracts with airports in Russia and India.
In July, it entered a joint venture with China's Shenzhen Airport Group to invest in and manage up to 50 airports in China. Globally, airports such as Germany's Fraport, Amsterdam's Schiphol Group and South Korea's Incheon International are also seeking stakes in airports in emerging markets like India, the Middle East, and China to benefit from their rapid growth.
Changi Airports is the overseas investment arm of the Civil Aviation Authority of Singapore, which owns and operates the city-state's Changi Airport.
- The Economic Times January 05, 2008 -
SINGAPORE: Singapore's Changi Airports International aims to spend up to $700 million within the next five years on stakes in 10 to 15 airports in the region to strengthen its Asian presence, its chief said on Saturday.
"Over the next three to five years, we hope to spend roughly $600-700 million ... We're working on five regions: China, India, the Middle East, Russia and Vietnam," Chief Executive Chow Kok Fong told media.
Changi Airports already has a presence in China, Russia and India. It paid $138 million last January for 29 per cent of China's Nanjing Lukou International Airport, and has management contracts with airports in Russia and India.
In July, it entered a joint venture with China's Shenzhen Airport Group to invest in and manage up to 50 airports in China. Globally, airports such as Germany's Fraport, Amsterdam's Schiphol Group and South Korea's Incheon International are also seeking stakes in airports in emerging markets like India, the Middle East, and China to benefit from their rapid growth.
Changi Airports is the overseas investment arm of the Civil Aviation Authority of Singapore, which owns and operates the city-state's Changi Airport.
- The Economic Times January 05, 2008 -
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