A consortium formed by Saudi-based Al Rajhi Holding Group and Turkish TAV Airports Holding has started exclusive talks with the General Authority of Civil Aviation (GACA) to operate and develop Yanbu International Airport under a 30-year concession contract, TAV said in a statement.

 

In 2009, Al Rajhi Group and TAV had created a 50:50 consortium to seek airport management and build-operate-transfer concessions in the Kingdom of Saudi Arabia.

 

The Turkish group also signed in 2011 a contract with GACA, together with Al Rajhi Group and Saudi Oger, for the Build-Transfer-Operate project of the Madinah Airport, the first airport privatization in Saudi Arabia.

 

Last year, a total of 1.1 million passengers traveled through Yanbu Airport.

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