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Turkey’s TAV develops Kazakhstan’s and Central Asia’s biggest airport

Almaty, Kazakhstan (PortSEurope) June 16, 2020 – Turkish airport builder and operator TAV and its investment partner, VPE Capital, signed in May an agreement to buy Almaty International Airport, the biggest airport in Kazakhstan and in Central Asia, and associated jet fuel and catering businesses for $415 million (€368.4 million). Also in May, TAV said that it’s already building a $162 million (€150 million) international
terminal at Almaty International Airport with a total area of 55,000 m² (13.6 acres). The new terminal will be open in mid-2022. Located in the country’s southeast and a strategic junction along China’s One Belt One Road initiative, Almaty International Airport will be the 15th airport in TAV’s network. TAV Havalimanlari Holding AS already operates airports in Tbilisi and Batumi in Georgia, Riga in Latvia, Skopje and Ohrid in North Macedonia, Zagreb in Croatia, and in Turkey, Saudi Arabia and Tunisia. Almaty is strategically located on the New Silk Road, running from China to Europe and Africa also through air transport. Kazakhstan is the largest country in the region – both geographically and economically, and Almaty is the largest city in the country generating 20% of Kazakhstan’s GDP. The new Silk Road (part of the Belt and Road initiative also known as One Belt, One Road, or OBOR) is a Chinese economic strategy to seek better access for Chinese-made products in European markets, which includes acquiring stakes in ports, airports and other transport facilities, and cooperation agreements with countries along the Silk Road routes. Almaty Airport served 6.4 million passengers in 2019, a 13% increase compared to 2018. In 2018 the airport served 68% of all cargo in Kazakhstan. Kazakhstan generates 60% of Central Asia’s GDP. TAV Airports is part of airport management platform Groupe ADP (formerly Aéroports de Paris), which served 218 million passengers in 2019. Through its subsidiaries, TAV is active in airport service businesses, including duty-free, food and beverage, ground handling, IT, private security and commercial area management. The company is listed on Istanbul Stock Exchange. In September 2008, TAV said that it had submitted a non-binding bid to buy Almaty airport ain a joint venture with Goldman Sachs International, but this deal did not materialise. In March 2012 France’s Aeroports de Paris said that it would buy a 38% stake in TAV for $874 million (€775 million), a deal which valued all of TAV’s equity at $2.3 billion (€2.04 billion). As part of the deal, ADP also acquired 49% of unlisted construction company TAV Yatirim. Copyright (C) PortSEurope. All Rights Reserved. 2020.

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