The Nanjing deal is the third major airport project secured by Changi Airports in the past six months.

In August 2006, it signed an agreement to manage the New Terminal 1 of Sheremetyevo Airport in Moscow under a joint venture with the Sheremetyevo Airport Joint Stock Company.

Changi Airports also agreed in December to manage Abu Dhabi International Airport.

China is encouraging overseas funds to invest in the nation's small- and medium-sized airports to help meet the explosive air travel demand in the world's second biggest aviation market.

In December, Hangzhou Xiaoshan International Airport became the first mainland civil airport with direct overseas investment. A joint venture was signed with the Airport Authority Hong Kong.

The Hong Kong airport authority said it will invest 1.99 billion yuan (US$254.4 million) for a 35 percent stake.

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