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FINANCIAL NEWS
Bin Laden wins $7.2b renovation contracts in Jeddah airport
14 Nov 2010
(MENAFN) Bin Laden Group, a Saudi industrial conglomerate, has won two contracts worth $7.2 billion for the renovation of King Abdulaziz International Airport in Jeddah, Reuters reported.
According to the Saudi Press Agency (SPA), the contracts were for the first phase of the development project which seeks to raise the airport’s annual capacity to 30 million passengers.
Moreover, Saudi Arabia plans to spend billions of dollars in the coming decades to overhaul some of its airports.
It is worth noting that data from the kingdom’s civil aviation authority mentioned that traffic at Saudi airports is expected to double to 60 million passengers in the coming 10 years.
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