TAV HAVALIMANLARI HOLDING TAV Airports, together with its consortium partner, will invest a total of USD 275 million in Madinah, to increase terminal capacity. A new domestic terminal will be built, and the existing terminal will be developed to accommodate 18 million passengers annually.
TAV Airports, together with its consortium partner, will invest a total of USD 275 million in Madinah, to increase terminal capacity. A new domestic terminal will be built, and the existing terminal will be developed to accommodate 18 million passengers annually.
A member of Groupe ADP, TAV Airports will be developing Madinah Airport further to meet surging passenger traffic. Saudi Arabia's first airport privatization project, Madinah Airport welcomed 9.4 million passengers in 2023, with a 49% increase compared to the previous year.
The signing of the "Head of Terms" agreement was attended by the Saudi Arabia's Minister of Transport Saleh bin Nasser AI Jasser, President of General Authority of Civil Aviation (GACA) Abdulaziz Al-Duailej, TAV Airports CEO Serkan Kaptan and Executive Board Member and Chair of ExCom Franck Mereyde.
TAV Airports CEO Serkan Kaptan said "We have been successfully operating Madinah Airport, the gateway to the Holy Land, together with our partner Al-Rajhi, for the last 12 years. The passenger traffic is increasing on a very fast pace following lift of travel bans brought in during the pandemic. This new investment program will help accommodate increasing demand and is fully supporting Saudi Arabia's Vision 2030, which aims to attract more visitors into the country".
The consortium of TAV Airports and Al-Rajhi Holding holds the concession rights to operate Madinah Airport until May 2041.
The planned investment includes building a new domestic terminal with an area of 40 000 sqm, developing the existing terminal further for international traffic. There will be new connecting roads and carpark capacity increase.
TAV Airports undertook the build-operate-transfer project of Madinah Airport, and began operations in 2012. A new terminal was built with an investment of approximately USD 1.2B, which became the first LEED-certificated building in the MENA region.
About TAV Airports
TAV Airports served 96 million passengers in 2023, providing integrated services in all areas of airport operations, with a global footprint at 110 airports in 33 countries. A member of Groupe ADP, TAV Airports is part of the leading airport management platform globally. Through its subsidiaries, TAV is active in airport service businesses, including duty-free, food and beverage, ground handling, IT, private security and commercial area management. The company is quoted on Istanbul Stock Exchange.
For further information: Erhan Ustundag,
+90 212 463 30 00/2097 and +90 530 228 80 59
erhan.ustundag@tav.aero
www.tavairports.com
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TAV Havalimanlari Holding AS published this content on 21 March 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 March 2024 19:39:02 UTC.
