Medinah airport tender win announced
Consortium awarded region’s first transportation PPP
A consortium led by the aviation branch of Turkish construction and operations company Tepe Akfen (TAV) won the tender for the BOT project of the Prince Abdulaziz International Airport in Medinah, Saudi Arabia.
It is the first PPP project for the transportation industry in the Gulf region.
The first phase of the project, values at US $1 billion, will double the airport’s capacity from four million to eight million passengers per year, through construction of a new terminal building and the renovation of the runway, apron and taxiway systems.
Phase two is planned for the next decade and will further increase capacity to 16 million passengers. TAV’s projects partners are Saudi Oger and Al Rajhi Holding.
“What makes this a remarkable success is the fact that this will become the first application of PPP scheme not only into airport developments but also to the GCC’s transportation industry,” said Gulf regional director for TAV Yusuf Akcayoglu.
“The Gulf region, because of its geographical location, is a natural hub bridging the rising East, led by China and India, with the West. Therefore, I believe that the GCC countries are absolutely correct for the invesment into their aviation infrastructure and they are also very successful with the results yielded,” Akcayoglu added.
It is the firm’s 11th airport project.
You can read a full interview about this project and TAV’s other airport contracts by clicking here.
