Press Releases

Press Releases

Medina Amir Prince Faisal Bin Salman visits Madinah Airport Project

Medina Governor Prince Faisal Bin Salman, who is also the son of Saudi Crown Prince, visited the Madinah Airport project which TAV Airports undertook along with its consortium partners in Saudi Arabia. Medina Governor Prince Faisal Bin Salman, the son of Saudi Crown Prince Salman Bin Abdulaziz Al Saud, visited the Madinah Airport project which TAV Airports is building along with its consortium partners in Saudi Arabia. During his visit, the Governor of Medina Prince Faisal Bin Salman was briefed by TAV Construction Deputy General Manager Cumhur Kaur and the Sofiene Abdessalem, the General Manager of TIBAH, the consortium that operates Madinah Airport and which TAV is also a partner of. The prince said that the traffic in Medina during hajj and Umrah visits will be reduced significantly once the airport is completed at the beginning of 2015 as planned. Following the project closely, Prince Faisal congratulated the employees and managers for the stage they reached at the project. The 1 billion dollar investment is being realized under the leadership of TAV as part of the project which also involves a hotel and commercial areas. More than 5000 employees from 36 different countries work in the construction of Madinah Airport project which is the first in the Middle East, North Africa and Europe to qualify for the LEED certificate issued by the United States Green Building Council. The agreement for the construction and operation of Madinah Airport, which is the first in the region in terms of size, importance and innovation, was signed in June 2012 between TIBAH (consisting of TAV Airports, Saudi Oger and Al-Rajhi Holding) and Saudi Arabia's General Authority of Civil Aviation (GACA). The consortium obtained 1 billion dollar Islamic fund from Arab National Bank, The National Commercial Bank and The Saudi British Bank for the project. The project is the first large scale investment in the Middle East and North Africa region to be structured entirely with Islamic finance under the public-private sector partnership. As part of the project, the consortium will build a new terminal, apron and fast exit taxiways, and increase the existing capacity to 8 million passengers a year. The consortium will also be operating the airport, which is anticipated to be completed in a record time, for 25 years.

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