Turkiye’s TAV Airports and the local Al Rajhi Holding plan to invest $275m to develop Medina airport amid surging passenger traffic growth. The investment plan includes building a new domestic terminal covering 40,000 square metres, upgrading the existing terminal and constructing new roads and parking facilities. The airport reported 9.4 million passengers in 2023, which is a 49% increase compared to the previous year. The new investment will increase the capacity to 18 million passengers a year. Saudi Arabia's Transport Minister, Saleh Bin Nasser AI Jasser; president of the General Authority for Civil Aviation (Gaca), Abdulaziz Al Duailej; chief executive of TAV Airports, Serkan Kaptan; and ExCom executive board member Franck Mereyde attended the signing ceremony. In 2012, the consortium led by TAV Airports Holding Company reached financial close on a $1.2bn deal to finance a project to take over the operation of Medina airport and expand its capacity. The TAV Airports and Al Rajhi Holding consortium has the concession rights to operate the airport until May 2041. (ICE RIYADH)

Fonte notizia: Meed