SIMFEROPOL, September 10. /ITAR-TASS/. The Crimea has valued an upgrade and development project for an airport in the city of Simferopol at  $1.015 billion, as seen by ITAR-TASS in the official offer for potential investors Wednesday.

Under the project, the first and second runways must be repaired and a new airport complex built. The offer says direct investment is the desirable participation form, but it does not disclose where the private money will go.

The Russian government previously approved a Crimea development target program, which includes allocating over 12.939 billion rubles for the airport’s development till 2020, while the airport terminal is planned to be constructed with funds from a private investor.

Acting Crimea’s Head Sergei Aksyonov previously said five major Russian airport operators are interested in investing in the airport.