According to the Associated Press a company controlled by Russian tycoon Oleg Deripaska bought the Sochi airport Monday for 5.5 billion rubles ($206 million U.S.) at a government auction in the hopes Sochi will win its bid for the 2014 Winter Olympic Games.
RIA-Novosti reports Trade and Economic Development Ministry official Igor Konkov saying that the investment was promising given Sochi’s strong Olympic bid.
The Russian government has committed to upgrading the runways and the new owners were to invest in a new airport terminal.
