Russian airport operator Basel Aero’s total investment in Krasnodar-region airports in southwestern Russia will reach RUB32 billion ($497.2 million), according to a company statement, ATWonline reported.

Construction of a new terminal at Anapa International Airport is one of Basel Aero’s key projects at the moment. The 11,800-square meter terminal will have a 600 passenger-per-hour capacity and will be finished in the near future; investments could reach RUB1.4 billion.

The new 45,000-square meter terminal building at Krasnodar International Airport Pashkovsky will be able to handle 1,500-1,600 passengers per hour; its construction will be finished in 2019, at an investment of RUB8 billion. Additionally, in the next two years a new terminal at Gelendzhik Airport will be launched, an up to RUB520 million investment.

Basel’s biggest and first-completed project was the renovation of Sochi International Airport in 2007-2013, for which investments reached RUB14 billion. The company built a 65,000 square meter terminal which opened September 2010.

“After all the projects [are] completed Basel Aero’s total investment into airports of the Krasnodar region will reach RUB32 billion,” Basel Aero CEO Leonid Sergeev said.

Basic Element is one of Russia's largest business groups. The group’s companies are controlled by or are within the scope of Russian mogul Oleg Deripaska’s business interests. Together with Changi Airports International and Russia’s Sberbank, Basic Element established Basel Aero as a joint venture to operate four airports in the south of Russia (Sochi, Anapa, Gelendzhik and Krasnodar).