Turkish operator to invest in Saudi airport expansion

Turkish operator to invest in Saudi airport expansion

Turkish airport operator TAV Airports will invest $71.5 million as part of the $275 million expansion plan for Prince Mohammad bin Abdulaziz International Airport, better known as Madinah Airport, in Saudi Arabia, according to a media report. The new investment will increase Madinah Airport’s passenger handling capacity to 18 million annually from the existing eight million […]Turkish airport operator TAV Airports will invest $71.5 million as part of the $275 million expansion plan for Prince Mohammad bin Abdulaziz International Airport, better known as Madinah Airport, in Saudi Arabia, according to a media report.

The new investment will increase Madinah Airport’s passenger handling capacity to 18 million annually from the existing eight million per year, Daily Sabah, a Turkish news outlet, reported, citing a statement published on the state’s public disclosure platform. 

TAV Airports owns a 26 percent stake in Tibah Development, a joint venture with Saudi Arabia’s Al-Rajhi Holding Company that manages the Madinah Airport.

The total investment will be made in two stages: building a new 40,000 sq m domestic terminal and redeveloping the existing terminal to grow the passenger capacity.

The expansion will start in the first half of 2024 with completion planned in 2027.

TAV Airports CEO Serkan Kaptan said the company has operated