Russian President Dmitri Medvedev signed a decree on the transfer of federally owned shares of OAO Koltsovo Airport to Sverdlovsk Region.

The shareholding in question comprises 34.56% of the company’s shares that are to be handed over within the course of six months.

The President’s official website states the decision was taken in order to enhance Sverdlovsk Region’s air transportation efficiency and to attract investments needed for the construction, full-scale reconstruction, and upgrade of the airport facilities.

For one, the share transfer is supposed to attract at least 32 billion RUR worth of investments in state-private partnership projects by the year 2030.

The decree came into force on February 1, 2011.