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SAUDI ARABIA,TURKEY : TAV Airports signs a contract with GACA for $1.5 billion Medina airport
Publish Date : 02-Nov-2011
TAV Airports Holding and its consortium partners, the Saudi Arabia-based Al Rajhi Holding Group and Saudi Oger, signed a contract with Saudi Arabia’s General Authority of Civil Aviation (GACA) to increase the capacity of Prince Mohammad Bin Adbulaziz International Airport on the basis of the build-operate-transfer (BOT) model with a project that will cost around $ 1.5 billion.
The project is expected to finished by the first half of 2015 and will increase the existing capacity of 4 million passengers, to 8 million at the Medina airport with the addition of a new terminal building.
For 25 years, the TAV Airports Holding-Saudi Oger Ltd-Al Rajhi Holding consortium will have the operating rights for the airport.
M. Sani Sener, President and CEO TAV Airports said, “I believe that increasing the capacity of the Medina airport for pilgrimage and Umrah flights from Istanbul, Ankara and Izmir as well as mutual communication and coordination will contribute to the Turkish and Saudi Arabian aviation industries.”
