TAV Airports enter into an agreement for the development and operation of Yanbu, Qassim and Hail airports in Saudi Arabia after Medina airport. With the agreement, TAV will invest $ 400 million and will operate three airports for 30 years.
At the airport operation, Turkey's leading brand TAV Airports has signed an agreement with the Saudi Arabian Civil Aviation Authority (GACA) for the development and operation of three airports in Saudi Arabia. TAV and its partner Al Rajhi Group will operate Yanbu, Qassim and Hail airports for 30 years. A total of $ 400 million will be invested in new terminals and service units at the three airports. In 2000, the number of airports operated by Istanbul Ataturk Airport and the number of airports operated by TAV all over the world increased to 17, while the company will operate four airports in Saudi Arabia.
"Annual number of passengers served will rise to 110 million"
Existing capacity will increase
Yanbu, Qassim and Hail airports, which will serve approximately 3.6 million passengers in 2016, will be further developed with the total investment of 400 million dollars and will serve approximately 11.5 million passengers per year.
TAV also plans to take over the operation of the three airports in this year. The company will begin construction of new terminals after it takes over the operation and complete the investment in 2020. TAV will continue to operate the three airports until 2047.