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!

All comments are subject to approval before appearing

Further reading

Features & Analysis
Dubai déjà vu? Buildings with international twins

Dubai déjà vu? Buildings with international twins

Lookalike architecture: We look at five buildings in the UAE...

1
Sink or swim: Why is the Gulf so fascinated with underwater projects?

Sink or swim: Why is the Gulf so fascinated with underwater projects?

Gulf developers, particularly in Dubai, have announced a number...

Five ways to maximise productivity during Ramadan

Five ways to maximise productivity during Ramadan

A drop in productivity during Ramadan is generally accepted by...

Most Discussed