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Fraport AG Gets Approval To Invest In Xi'an Airport
July 18, 2008 |
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Wolfgang Schwalm, principal of press office of Fraport AG, told local media that Fraport AG with China West Airport Group will form a joint venture to operate and manage the Xi'an Xianyang International Airport.
To invest in the Xi'an airport is the first time for Fraport AG to show up in the capital market of Chinese airport industry. Fraport AG, the China West Airport Group Aviation Logistics (Xi'an) Company Limited, China Aviation Airport Investment Company Limited and China West Airport Group will jointly build a new company to operate and manage the Xi'an Airport.
It is reported that the registered capital of new company was CNY2 billion and it is scheduled to be opened by September 2008. Of these, China West Airport Group invested in CNY1.018 billion, each of Fraport AG and China Aviation Airport Investment Company Limited with CNY490 million, and the China West Airport Group Aviation Logistics (Xi'an) Company Limited with CNY2 million, accounted for 50.9%, 24.5%, 24.5% and 0.1% shares of new company, respectively.
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