TAV consortium in exclusive talks for Saudi airport with local authorities
ISTANBULA consortium formed by Turkey’s TAV Airports Holding and Saudi Arabia’s Al Rajhi Holding Group has entered into exclusive talks for the operating and development of Yanbu International Airport in Saudi Arabia with local authorities, the Turkish firm said in a statement on March 13.
The talks with General Authority of Civil Aviation (GACA) are for a 30-year concession contract, according to the statement.
TAV Airports Holding and Al Rajhi Holding Group have an equal share (50 percent) in the consortium. Yanbu Airport served nearly 1.1 million passengers in 2016, read the statement.
It has already built a significant presence in the Middle East, where it helped to build airports in the United Arab Emirates, Bahrain, Saudi Arabia and Qatar.
TAV also operates Madinah Airport in Saudi Arabia, the first airport privatization project in the kingdom, along with its consortium partners.