Dubai’s Department of Civil Aviation (DCA) is considering financing its remaining infrastructure and airport projects as one single package.
The DCA along with Dubai’s Department of Finance is currently talking to local banks over the financing of Aviation City, which is the next part of the $30bn Dubai World Central to be developed. The first phase of Dubai World Central is Al-Maktoum International Airport, which opened for cargo operations on 1 July.
The expansion of Terminal 2 will almost double its capacity to five million passengers a year
The other projects being considered for financing are the expansion of Terminal 2 and the remaining contracts for the $1.3bn Concourse 3 at Dubai International airport.
The DCA expects to have financing in place for these projects by the end of the year.
Concourse 3 is tentatively scheduled to be completed by the end of the first quarter of 2012 and has been specifically designed to accommodate Emirates’s increasing fleet of Airbus A380 planes.
A joint venture comprising Beirut-based Dar al-Handasah and France’s Aeroports de Paris Ingenierie (ADPI) won the consultancy contract for the expansion of Terminal 2 at Dubai International airport in July (MEED 5:7:10).
The joint venture is currently working on the design for the expansion of Terminal 2, which will see capacity almost double to five million passengers a year. Terminal 2 is currently used for regional operations, charter services and pilgrimage flights and has an annual capacity of about three million passengers.
Once the enabling works are complete, the DCA is expected to issue the tender for the main construction contracts in the third quarter of the year.
Dubai has already invested $4.6bn in Dubai World Central so far, which has gone towards the construction of Al-Maktoum International airport, infrastructure on the south side of the airport, the runway, control towers and Logistics City.