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HOCHTIEF to Expand Airport in Riyadh for About EUR 1.3 Billion - Joint venture to upgrade and expand two terminals including airside infrastructure works. HOCHTIEF has 55 percent stake in the joint venture - HOCHTIEF.com
HOCHTIEF to Expand Airport in Riyadh for About EUR 1.3 Billion

 

PRZOOM - /newswire/ - Essen, Germany, 2015/06/30 - Joint venture to upgrade and expand two terminals including airside infrastructure works. HOCHTIEF has 55 percent stake in the joint venture - HOCHTIEF.com.

   
 
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HOCHTIEF is to upgrade and expand the King Khaled International Airport in Riyadh, the capital of of Saudi Arabia. The company has just signed an agreement with the Saudi General Authority of Civil Aviation (GACA). Acting as the technical and commercial lead of the "Riyadh Airport Expansion" joint venture, HOCHTIEF - together with the companies Shapoorij Pallonji Mideast LLC. and Nahdat Al Emaar - will redesign, upgrade and expand two existing terminals, and demolish and refurbish other parts of the airport infrastructure. The contract is worth about EUR 1.3 billion. Construction has started already and completion is currently planned for May 2019. This project is the first part of the extensive program by GACA to develop and expand the airport's facilities worth EUR 4 billion.

Apart from refurbishing and expanding the existing Terminals 3 and 4, the now awarded contract also involves the demolition and reconstruction of the aprons inclusive of apron lighting and fueling facilities. The contract further covers the construction of new terminal lounges and operation buildings, as well as the installation of baggage handling and security systems. HOCHTIEF (hochtief.com) will also be responsible for installing IT, fire protection and communication systems.

Marcelino Fernández Verdes, CEO of HOCHTIEF: "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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Agency / Source: HOCHTIEF AG

 
 

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HOCHTIEF to Expand Airport in Riyadh for About EUR 1.3 Billion

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HOCHTIEF AG | GACA
Contact: Stefan Hannen - HOCHTIEF.com 
+49 201-824-2960 stefan.hannen[.]hochtief.de
 
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IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any HOCHTIEF AG securities in any jurisdiction including any other companies listed or named in this release.

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