Turkey’s TAV set to build Saudi terminal
The construction of a new terminal at Riyadh’s King Khaled International Airport is the third project TAV’s construction arm has won in the country as a contractor.Turkish airport operator TAV’s construction arm said yesterday it had officially undertaken the construction and design of a terminal in King Khaled International Airport, in the Saudi Arabian province of Riyadh.
The joint venture of Turkey’s TAV and the local Al-Arrab Contracting Company had received the official approval for the contract on the design and building of the new Terminal 5 for an estimated cost of $400 million, the company said yesterday in a written statement.
“This is an important business as the airport privatizations in Saudi Arabia are going on and this airport is among the ones planned to be privatized,” TAV Group CEO Sani Şener said.
The partners expect to complete the construction in 18 months.
With the addition of this project to its portfolio, the total contract price amount of projects undertaken by TAV Construction has surpassed $16 billion, it also said.
This is the third project TAV has won in the country as the contractor is also working on the expansion of another Saudi airport, the Prince Mohammad Bin Abdulaziz International Airport in Medina, in addition to winning a tender worth $800 million to build an airplane maintenance hangar at King Abdul Aziz International Airport in Jeddah.