German, Singapore operators win Saudi airport contracts

Saudi Arabia has awarded airport management contracts worth a total of 579.5 million riyals ($154.5 million) to Fraport of Germany and Changi of Singapore, state news agency SPA reported on Tuesday.

Germany's Fraport two contracts worth 417.5 million riyals, and each of which will last six years, involve the commercial management of the kingdom's two largest airports, located in the capital Riyadh and the Red Sea port city of Jeddah, SPA said.

Fraport's Chief Executive Wilhelm Bender said in November his firm aims to expand further outside Germany to boost revenues.

A third, similar contract worth 162 million riyals was granted to Singapore's Changi International Airports Co.

Changi Airports International said it had won the contract to run King Fahd International Airport in Dammam for six years over nine competitors in a bidding process that began in June.

Dammam is the world's largest airport with a capacity of 11 million. In 2007, it handled 4.4 million passenger arrivals

Changi was awarded an 18-month management contract for Abu Dhabi International in December 2006.

"The Middle East remains Changi Airports's core market,'' newswire Bloomberg quoted Wong Woon Liong, chief executive officer of Changi Airports, as saying. The region is "well poised to weather the current economic turmoil, better than other regions, and to continue growing."

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