Yunnan airport seeks foreign investor
China’s Yunnan Airport Group (YAG) is seeking an overseas investor to help finance a new CNY18.4 billion (US$2.7 billion) airport in southwest China, ChannelNews Asia has reported. The new airport in provincial capital Kunming is hoped to provide an international standard aviation hub.
State-controlled YAG is reportedly searching for a foreign partner, while it will keep a controlling stake of no less than 51%. The official China Business News reported on Monday that Airport Authority of Hong Kong, Australia’s Macquarie Group and the operators of Singapore’s Changi Airport and Frankfurt Airport have expressed interest.
Following the investment Kunming Airport is expected to become China’s fourth largest hub, with annual passenger traffic of 38 million and cargo traffic of 1.3 million tonnes by 2020, according to the YAG statement.
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