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M&A: BUCG to invest ca. $1 billion in development of Kirghiz airports

The Chinese building corporation Beijing Urban Construction Group (BUCG) intends to invest about $1 billion in the development of airports in Kyrgyzstan, the press service of the Manas International Airport stated in after the signing of the agreement with BUCG.

The parties agreed to cooperate in the construction of an International wholesale and retail terminal at the Manas international airport and the rehabilitation of the Batken international airport and the Issyk Kul airport (Tamchy). A large transit terminal has been blueprinted for the Batken international airport, while the Tamchy project assumes the construction of a tourist terminal to develop the travel industry in Issyk Kul Province.

It will be recalled that in February, Rosneft President Igor Sechin and Djoomart Otorbaev, the current Prime Minister of Kyrgyzstan, signed a memorandum of understanding for Rosneft toacquire at least 51% of the shares in OJSC Manas International Airport. Russia's oil giant intended to spend up to $1 billion on the purchase of shares and joint projects.

BUCG is a large building corporation with the annual turnover of CNY 54 billion ($8.65 billion). To-date, it has implemented more than 240 large-scale projects in the People's Republic of China including all the Olympic facilities and terminal 3 of the Beijing airport.

The Manas International Airport is one of the leading transport carriers in Kyrgyzstan. In 2013, the airport provided services to more than 2 million passengers.

"AK&M", 04.07.2014


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