German construction firm Hochtief has won a contract to upgrade and expand King Khaled International Airport in Riyadh, Saudi Arabia.
The company signed the agreement with the Saudi General Authority of Civil Aviation (GACA) and will now act as the technical and commercial lead for the project.
Hochtief will hold a 55% stake in the project and will work with local construction firms Shapooriji Pallonji Mideast and Nahdat Al Emaar to redesign, upgrade and expand terminals 3 and 4, and demolish and refurbish other parts of the airport infrastructure. The project will also include the construction of new terminal lounges and operation buildings, as well as the installation of baggage handling and security systems. Hochtief will also be responsible for installing IT, fire protection and communication systems.
The contract is worth approximately €1.3bn (US$1.4bn) and is the first stage of a wider €4bn (US$4.4bn) expansion program implemented by GACA. Construction work has already started on the project, which has been given a completion date of May 2019.
Marcelino Fernández Verdes, CEO of Hochtief, said, “We are delighted to have won this major contract. It reinforces our position as an important infrastructure construction group and shows that our international expertise and the know-how of our engineers in the area of complex, large-scale projects are greatly appreciated by our clients.”
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