Saudi Arabia's General Authority of Civil Aviation (GACA) announced plans to invite prequalified companies to submit development bids for phase one of Medina International Airport by the end of Jul-2010 (MEED, 26-Jul-2010). Eight of the 49 companies that applied received prequalification. The development is expected to require USD2.4 billion in investment. Phase one is expected to require USD1.5 billion and will increase the airport’s capacity from 3.5 million to 14 million passengers p/a. The development includes a new passenger terminal and renovation of the runway. There is also a provision for the construction of a second runway. The airport will be operated through a long-term concession agreement and will be the first Saudi airport project to be developed on a public-private partnership basis.
28-Jul-2010 10:20 AM