Saudi Arabia’s General Authority for Civil Aviation (GACA) is planning to award Taif International Airport development contract within the next few weeks, MEED reported on Monday, citing unnamed sources with knowledge of the matter.
Last week, two groups submitted bids to design, finance, build and operate the airport under public private partnership (PPP) model.
The first consortium was formed by Saudi Arabia's Al Rajhi Holding Group and Turkey's TAV Airports Holding, while the second included Lebanon’s Consolidated Contractors Co. (CCC), Munich Airport and local Asyad Holding.
The airport PPP scheme was put on hold after reaching the prequalification stage in 2016 and the Washington-based International Finance Corporation (IFC) will no longer advise on the development plan.
The new airport, which will be the kingdom’s third airport developed under PPP, is planned to have an initial capacity of 5 million passengers a year, which could be increased to 8 million and will be opened in 2020.
The airport, northeast of Taif, will serve visitors for the pilgrimage to Makkah, which is about 120 kilometers away from the airport site.
Earlier this month, the aviation sector regulator reached an agreement with Al-Rajhi Holding and TAV to operate and develop Yanbu International Airport under a 30-year concession contract.
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