Russian, Singaporean airports sign joint management venture deal

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MOSCOW, July 20 (RIA Novosti) - Sheremetevo and Changi, Russia and Singapore's largest airports, have signed an agreement to form a joint venture to manage a new terminal of Sheremetevo-1, the Moscow airport said in a news release Thursday.

"Following talks, a bilateral agreement was signed on forming a joint venture. The goal of the venture will be to manage the new international terminal of Sheremetevo-1, the construction of which is scheduled to end by the end of 2006," the statement said.

In June 2006, Changi International Airport, a major world aviation hub serving 30 million passengers a year, signed a cooperation agreement with the state-owned Russian airport complex to develop production, commercial, and cultural links.

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