Florence Chong | January 11, 2008
SINGAPORE plans to step up investment in foreign airports.
The city-state's Civil Aviation Authority is following in the footsteps of other Singapore government-owned agencies with the move.
CAAS's offshore investment subsidiary, Changi Airport International (CAI), hopes to build up a portfolio of assets valued at $US700 million ($792 million) in three years.
It already holds stakes in a number of airports through a London-based joint venture, Alterra Partners, but a CAI spokeswoman said it intended to make future investments of its own.
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