Turkey's TAV says $400m airport deal sealed

  • Share via facebook
  • Tweet this
  • Bookmark and Share

Turkish construction firm TAV Insaat said on Tuesday that it had won a tender worth $400m to build a new terminal in Saudi Arabia's Riyadh King Khaled International Airport.

The tender was awarded to the TAV-Al Arrab Contracting (Al Rajhi Holding) joint venture.

Construction is planned to be completed in 18 months, according to a statement by parent Akfen Holding to Bourse Istanbul.

In November,  said it was the lowest bidder for the design and construction tender of Terminal 5 the airport.

Last month, it was reported that King Khaled International Airport will be expanded to more than double passenger numbers by 2015.

The General Authority for Civil Aviation (GACA) announced it would boost the capital’s airport to accommodate 35.5 million passengers annually by the end of 2015.

Almost 15 million passengers passed through the airport in 2011, according to GACA data.

The expansion will make it the largest airport in the Gulf kingdom, overtaking King Abdulaziz International Airport in Jeddah, which saw more than 22 million passengers in 2011.

* With Reuters

Related:
Join the Discussion

Disclaimer:The view expressed here by our readers are not necessarily shared by Arabian Business, its employees, sponsors or its advertisers.

Please post responsibly. Commenter Rules

  • No comments yet, be the first!

Enter the words above: Enter the numbers you hear:

All comments are subject to approval before appearing

Further reading

Features & Analysis
Revealed: GCC's top 10 developers

Revealed: GCC's top 10 developers

The biggest players behind many of the region's most ambitious...

Mall talk

Mall talk

Plans for Dubai’s Mall of the World have made headlines all over...

1
Qatar's labour requirements

Qatar's labour requirements

Qatar’s Supreme committee has published worker welfare standards...

2
Most Popular
Most Discussed
  • 14
    ‘How my Dubai mortgage landed me in a police cell’

    I live in the UAE for 10 years. I have had friends flee the country for similar cases. Since no change occurred in the banking system, incidents like this... more

    Thursday, 30 October 2014 9:06 PM - Awi
  • 9
    Do you actually own your house?

    This is unbelievable from Nakheel. In a case where we want landscape our garden with some tiles and grass costing around 12500, Nakheel is demanding a... more

    Thursday, 30 October 2014 9:06 PM - skp
  • 3
    Most Dubai rents continue to fall in Q3, says regulator

    I am curious to see what happens when all those who bought in this mini-boom phase of 2013 come out to sell. Furthermore I am curious to see the effects... more

    Thursday, 30 October 2014 12:49 PM - LordLands