Germany’s Fraport, the operator of Frankfurt Airport, as become one of the sareholders of Xianyang nternational Airport in Nothwest China’s Shaanxi Province by obtaining a 24.5 percent stake, state media reported.

Under an agreement signed last month, Fraport will pay 490 million yuan for the stake while the state-owned company Cina West Airport Group, former sole owner of the airport, will hold 50.9 percent of shares.

The other two shareholders are China National Aviation Holding Company with a 24.5 percent stake and Xi’an Airport Logistics Co. Ltd. of China West Airport Group.

The Xianyang Airport is the largest in northwest China and handled 9.4 million passengers last year.