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FINANCIAL NEWS
Dubai plans to raise funds to expand airport
07 Mar 2012
(MENAFN) Dubai Airports’ chief executive, Paul Griffiths, said that Dubai is planning to raise funds to expand its aviation sector, reported Gulf News.
Griffiths added that the amount would be used to add a new USD34 billion facility that would become the biggest in the world.
Moreover, Dubai is holding discussions with external consultants to find a structure to access the financial market.
He also said that the huge new Al Maktoum airport would be expected to accommodate up to 160 million passengers.
On the other hand, he said that the airport was initially due to open for passenger traffic in March 2011, however, testing may to continue to the middle or end of the current year.
It is worth noting that Dubai’s existing airport serves more than 50 million passengers annually.
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