Prince Abdulaziz Airport in Madinah, Saudi Arabia was to be privatized. In order to secure the necessary expertise and financial resources for future development, GACA, the Civil Aviation Authority of Saudi Arabia, sought potential investors.
The InterVISTAS Team served as the Lenders’ Technical Traffic and Environmental Advisor, conducting the due diligence on behalf of the Lenders to support financing and to provide continuing technical traffic and environmental advisory services until the completion of the project. This includes, among others, a complete traffic forecast and financial model with capital expenditures and review of legal documentation concerning the tender requirements.
TAV Airports signed a contract with GACA together with Al Rajhi and Saudi Oger, for the BOT Build Operate Transfer project of the Madinah Airport, the first airport privatization of Saudi Arabia.
The Consortium will complete the construction of the passenger terminal by the first half of 2015 and shall be entitled to operate the Madinah Airport for 25 years. The project investment is expected to be approximately 1 to 1.5 billion USD. The Consortium shall construct a state-of-the-art passenger terminal by the first half of 2015. The capacity of Madinah Airport will in phases ultimately be increased to 16 million passengers per year prior to the expiration of the concession period.