Mashreq and Arab Bank arranged funding facility
The UAE/Turkish team was awarded the contract to build a new terminal building at the BIA in January. The terminal is the largest item in the states $1.1bn airport modernisation programme (AMP).
The new terminal has a built up area of 220,000square metres and has a design capacity of 14 million passengers annually. It is expected to be constructed within 51 months.
MEED earlier reported that the joint venture has agreed to raise an AED4bn ($1.1bn) loan from a group of regional financial institutions to help it finance the construction of Bahrains new airport terminal.
Several contracts have been awarded for the AMP apart from the terminal building. Chinas CIMC was awarded a contract for the passenger air bridges; Vanderlande of the Netherlands for the baggage-handling system; US-based L3 Communications for the security screening equipment; and Finlands Kone for the moving walkways, escalators and elevators.
A contract was also awarded to Frances SETEC for the design of a maintenance, repair and overhaul (MRO) facility.
Bidders are also currently awaiting the award of an information and communications technologies (ICT) package.
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