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FINANCIAL NEWS
Saudi Arabia shortlists 4 firms for airport project
07 Apr 2010
(MENAFN) A senior executive at Saudi Arabia’s General Authority of Civil Aviation (GACA) said that four groups have been shortlisted for a $2.4 billion project to build and operate facilities linked to an airport in Jeddah, SPA reported.
The so called Airport City project, which will take about 10 years to complete, is part of a plan to attract about $5.86 billion in investments to build, own and operate one airport and terminal related facilities, the official.
Saudi Binladin Group, Australia’s Land Lease Group and local companies comprise the bidders for the contracts. The winning bids would be announced in August, he pointed out.
The plan also envisages building an airport in Madina, home to Islam’s second holiest site at an estimated cost of $1.6 billion, he said.
The Madina airport would be the first to be fully owned by the private sector at the city visited by millions of Muslims every year.
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