Business & Operations Review (Part 2) - Changi Airport Group
Business & Operations Review (Part 2) - Changi Airport Group
Business & Operations Review (Part 2) - Changi Airport Group
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54<br />
2.<br />
1.<br />
CHANGI OVERSEAS<br />
Through its dedicated subsidiary for overseas<br />
ventures, <strong>Changi</strong> <strong>Airport</strong>s International (CAI),<br />
CAG exports <strong>Changi</strong>’s brand name and expertise far<br />
beyond Singapore’s shores. Since its inception,<br />
CAI has provided consultancy and management<br />
services to over 20 airports in more than 10 countries.<br />
At the same time, it has been building a portfolio of<br />
quality investments in airports with strong markets<br />
and significant development potential. Including its<br />
investments, CAI’s international portfolio spreads<br />
across China, India, the Middle East and Europe and<br />
involves some S$20 billion worth of projects.<br />
CAI continued to make significant headway during<br />
the year in the global arena and secured several<br />
prominent projects, further expanding <strong>Changi</strong>’s<br />
international footprint.<br />
Investments<br />
In July 2009, CAI acquired a 26% stake in Bengal Aerotropolis<br />
Projects Limited. The project, located at Durgapur in India’s<br />
West Bengal state, is CAI’s first investment in an Indian<br />
greenfield airport city project. The Durgapur Aerotropolis is<br />
India’s first aerotropolis project and its first privately owned<br />
merchant airport. The aerotropolis involves the setting up of<br />
an industrial park, a logistics hub, an information technology<br />
park and a township around the privately owned airport.<br />
CAI has in place a Technical Service Agreement to support<br />
the planning and development of Durgapur <strong>Airport</strong>, and will<br />
enter into an <strong>Operations</strong> and Management Agreement to<br />
assist in the management of the airport once construction<br />
is completed.<br />
In February 2010, CAI acquired a 5% stake in Gemina S. p. A.,<br />
the holding company of Aeroporti di Roma (AdR) for S$100<br />
million - its largest investment ever and its first in Europe.<br />
AdR is the largest airport group in Italy and holds the rights<br />
to operate Rome’s Leonardo da Vinci <strong>Airport</strong>, the sixth<br />
largest hub in Europe, as well as the smaller Giovan Battista<br />
Pastine <strong>Airport</strong>. CAI will play a key part in the development<br />
and expansion of AdR, providing advisory support in master<br />
planning, airport operations and commercial development.
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