TAV to build another airport in Saudi Arabia
TAV Airports Holding has signed a joint venture agreement with Saudi Arabian company Al Rajhi Holding (ARH).
TAV Airports announced that TAV and its partner, Al Rajhi Holding Group, have signed a 30-year agreement with local authorities for the operation of Yanbu International Airport in Yanbu city, Saudi Arabia.
The airport will be developed under a 30-year contract, which will boost its annual capacity to 3 million passengers annually from 1.1 million passengers as recorded in 2016. The consortium will build a 30,000-square-meter terminal under the deal.
TAV Airports Holding and Al Rajhi Holding worked together previously on the Madinah Airport project, which was completed in the first half of 2015. TAV is entitled to operate Madinah Airport for 25 years. The investment amount for the Madinah project was approx $1.1 billion.
TAV Airports Holding was established as a joint venture between Tepe and Akfen Groups and Airport Consulting Vienna in 1997.TAV Airports is the leading airport operator in Turkey as per the DHMI 2010 passenger statistics including transfer passengers.
The Riyadh-based Al Rajhi Holding was founded in 1936. The Al Rajhi Holding Group mainly operates in real estate, contracting, infrastructure, building solutions and investment management. The group has made investments in KSA, Qatar, UAE, Romania, Singapore, Australia and Brazil.
TAV Airports announced that TAV and its partner, Al Rajhi Holding Group, have signed a 30-year agreement with local authorities for the operation of Yanbu International Airport in Yanbu city, Saudi Arabia.
The airport will be developed under a 30-year contract, which will boost its annual capacity to 3 million passengers annually from 1.1 million passengers as recorded in 2016. The consortium will build a 30,000-square-meter terminal under the deal.
TAV Airports Holding and Al Rajhi Holding worked together previously on the Madinah Airport project, which was completed in the first half of 2015. TAV is entitled to operate Madinah Airport for 25 years. The investment amount for the Madinah project was approx $1.1 billion.
TAV Airports Holding was established as a joint venture between Tepe and Akfen Groups and Airport Consulting Vienna in 1997.TAV Airports is the leading airport operator in Turkey as per the DHMI 2010 passenger statistics including transfer passengers.
The Riyadh-based Al Rajhi Holding was founded in 1936. The Al Rajhi Holding Group mainly operates in real estate, contracting, infrastructure, building solutions and investment management. The group has made investments in KSA, Qatar, UAE, Romania, Singapore, Australia and Brazil.