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Turkish-Saudi consortium in talks to develop Yanbu International Airport
13 March 2017
A consortium of Turkey's TAV Airports Holding and Saudi Arabia's Al Rajhi Holding Group on Monday announced they have entered into exclusive talks with the General Authority of Civil Aviation (GACA) for developing and operating Yanbu International Airport.
The duration of the concession would be 30 years, said a statement posted on TAV Holding's website and on Bourse Istanbul's Public Disclosure Platform.
Both companies have an equal share within the consortium, the statement said.
Yanbu Airport served nearly 1.1 million passengers in 2016, it added.
In May 2016, Zawya reported that Saudi Arabia plans to privatize 11 airports by 2020, comprising of King Abdul Aziz International Airport in Jeddah, King Khalid Airport in Riyadh, King Fahd International Airport in Dammam, as well as airports in Abha, Al Qassim, Hail, Bisha, Yanbu, Jizan and Al Ahsa. (Read more about the Saudi airport privatization program here)
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