China’s Yunnan Airport Group is seeking an overseas investor to help finance a new RMB18.4-billion ($2.7-billion) airport in Kunming city, the capital of Yunnan province.
The idea is to position itself as an international aviation hub linking China to South and Southeast Asia as well as with Europe.
An airport official involved in the search for a foreign partner said the state-run Yunnan Airport Group will keep a controlling stake of not less than 51% after an overseas investor is found.
The official, who spoke on condition of anonymity, added the airport has yet to receive any offers.
The airport is expected to become China’s fourth largest, with annual passenger traffic of 38 million and cargo traffic of 1.3 million tonnes by 2020, according to the statement.