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FINANCIAL NEWS
Bahra Cables inks USD80m supply deal for Jeddah’s KAIA
12 Jun 2012
(MENAFN) Saudi Bahra Cables Company won a USD80 million deal to supply electric cables for the expansion project of King Abdulaziz International Airport (KAIA), a key airport in Jeddah, Arabian Business reported.
Under the agreement, the company, which is a unit of Construction Products Holding Company (CPC), will handle the supply of medium-voltage cables for the first phase of the project.
The estimated USD7.19 billion redevelopment is expected to take 24 months to complete and will expand the airport’s capacity to 30 million passengers annually.
In May, Saudi General Authority for Civil Aviation (GACA) unveiled plans to increase the capacity of King Khaled International Airport in Riyadh by threefold to 25 million passengers by 2015.
The expansion work includes the construction of terminal 5, which will be completed by November 2013.
In May, it was reported that Saudi Arabia plans to invest USD53.33 billion in its aviation sector over the next five years, in order to meet domestic growing demand due to a fast-growing population and economic development.
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