Mitsubishi Corporation (MC), Narita International Airport Corporation (NAA), Japan Airport Terminal Co., Ltd. (JATCO), and JALUX Inc. (JALUX) have established a joint venture with the government of Mongolia: New Ulaanbaatar International Airport LLC (NUBIA), Yahoo Finance reported.

NUBIA has entered into a 15-year concession agreement with the National Development Agency of Mongolia concerning the operation of the New Ulaanbaatar International Airport (the New Airport), which is expected to open in the first half of 2020 upon completion of pre-operation work and relocation from the existing airport.

In operating the New Airport, NUBIA will strive to improve the convenience of airport services by optimizing the combined knowledge and expertise of its shareholders: MC has extensive experience in the construction and management of airports and other infrastructure projects; NAA and JATCO operate Narita International Airport and the passenger terminal buildings at Haneda Airport respectively; while JALUX is engaged in airport retail businesses and also has experience managing overseas airports.