Al Rajhi Holding-TAV consortium wins deal to develop Saudi airports

Riyadh-based Al Rajhi Holding Group and Turkey’s TAV Airports have been picked by the General Authority of Civil Aviation (GACA) to develop Qassim and Hail International Airports under a 30-year concession.

The two airports will bring up TAV’s operated airports in Saudi Arabia to four and to 17 worldwide, the Turkish company said in a statement on Monday.

“With the addition of Qassim and Hail to our portfolio, the number of passengers in Saudi Arabia will increase to 10.5 million per annum; while the number of passengers at all airports abroad will reach 25 million,” TAV Airports President & chief executive, Sani Şener said.

The passenger capacity of Qassim and Hail airports will stand at nearly 6.5 million passenger annually, thanks to new investments after providing service to 2.5 million passengers last year.

In 2009, Al Rajhi Group and TAV created a 50:50 consortium to seek airport management and build-operate-transfer (BOT) concessions in the kingdom, Argaam earlier reported.

The Turkish group, Al Rajhi Group and Saudi Oger also signed in 2011 a contract with the Saudi aviation sector regulator to develop Madinah Airport under BOT system.

Last March, the consortium reached an agreement with GACA to operate and develop Yanbu International Airport.