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20 Nov, 2006 08:35

Sochi Airport privatised

Sochi Airport privatised

Russia's Sochi international airport was purchased at auction on Monday for $200 million dollars by Russian businessman Oleg Deripaska's affiliate company Strategiya Yug.

The airport, which has stood uncompleted since funding ran out last year. Construction began in 1989.

Strategija Yug paid more than 50% higher than the starting price, partly because of increased interest in the resort city. Sochi has been shortlisted for the 2014 Winter Olympic games.

The Serbian company Pootevi Oojitze won the bid for completing the airport's construction.