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FINANCIAL NEWS
Saudi to expand Riyadh airport’s size
15 Dec 2011
(MENAFN) Saudi General Authority for Civil Aviation’s director-general for corporate planning, Ali Al Zahrani, said that within the coming five years, the Saudi government would expand the size of Riyadh airport, reported Gulf News.
Al Zahrani added that traffic at the capital’s airport grew notably to reach 30 million passengers on annual basis, whereas it would be forecasted to reach 60 million over the next decade.
He also said that the authority developed a comprehensive plan with a conceptual design for the airport’s four terminals that would increase capacity from 12 million to 24 million, adding that the project would be financed either by the government or through issuing Islamic bonds (sukuk).
It is worth noting that Saudi is also planning to construct a USD7.19 billion airport in Jeddah and plans to launch a Sukuk to help finance the project.
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