Connect with us

Hi, what are you looking for?

Capital Business
Capital Business


China seeks overseas investor for southwest airport

SHANGHAI, September 1 – China\’s Yunnan Airport Group is seeking an overseas investor to help finance a new 18.4-billion-yuan (2.7-billion-dollar) airport in southwest China, the airport operator said Monday.

The new airport in Kunming city, the capital of Yunnan province, wants to position itself as an international aviation hub linking China to South and Southeast Asia as well as with Europe, the group said in a statement.

Foreign companies are being asked to invest cash, according to a statement posted on the provincial government website.

An airport official involved in the search for a foreign partner told AFP the state-run Yunnan Airport Group will keep a controlling stake of no less than 51 percent after an overseas investor is found.

The official, who spoke on condition of anonymity, added the airport has yet to receive any offers.

The official China Business News reported on Monday that Airport Authority of Hong Kong, Australian investment company Macquarie Group and the operators of Singapore\’s Changi Airport and Frankfurt Airport have expressed interest.

The airport is expected to become China\’s fourth largest, with annual passenger traffic of 38 million and cargo traffic of 1.3 million tonnes by 2020, according to the statement.

Click to comment

More on Capital Business

Executive Lifestyle

NAIROBI, Kenya, Mar 12 – The country’s super wealthy individuals are increasing their holding of bonds, gold and cash, a new report by Knight...

Ask Kirubi

NAIROBI, Kenya, Mar 9 – Businessman and industrialist Dr. Chris Kirubi has urged members of the public to exercise extreme caution when making any...

Ask Kirubi

NAIROBI, Kenya, Mar 24 – Businessman and industrialist Dr. Chris Kirubi is set to own half of Centum Investment Company PLC, following a go-ahead...

Ask Kirubi

It is without a doubt that the COVID-19 pandemic has caught the whole world by surprise. Although its full impact is yet to be...


NAIROBI, Kenya, Mar 18 – Commercial Banks have been ordered to provide relief to borrowers on their personal loans, with loans eligible from March...


NAIROBI, Kenya, Jun17 – Kenya’s tea leaves manufacturer Kericho Gold, has been awarded the Superbrands Seal by Superbrands East Africa for their quality variety...


NAIROBI, Kenya, Apr 13 – As the local telecommunications industry gears up to roll out 5G networks in the country, the Communications Authority of...


NAIROBI, Kenya, Mar 22 – Airtel Kenya is offering free internet access for students in order to enable continued learning at home in the...