According to a source with knowledge of the transaction, between seven and eight contractors submitted a bid for each of the two contracts.
MEED understands the estimated budget for the planned cargo terminal in Jeddah airport is SR1bn ($267m). The planned cargo terminal at Riyadh airport is smaller, with a budget estimated at SR300m.
Saudia Cargo, a subsidiary of Saudia, operates the cargo handling services at both airports.
The General Authority of Civil Aviation (Gaca) tendered a contract for the second cargo handling license at Riyadh airport earlier this year, with an award expected before the year end.
In May, Gaca awarded Singapore-based Changi Airports International a 20-year contract to operate and manage (O&M) Jeddah’s airport, the country’s busiest.
It is understood that the redevelopment and expansion of the Jeddah airport is expected to be fully completed before the end of the year.
Gaca said it expects to complete the privatisation of all airports in the kingdom by end of 2017.