Saudi Arabia's Yanbu becomes 15th airport on TAV's portfolio

TAV Airports has won the operation rights of Yanbu Prince Abdul Mohsin bin Abdulaziz International Airport in Saudi Arabia for a period of 30 years, the company said in a statement on March 16.

TAV will construct a new terminal and operate the airport for 30 years, the statement said. 

TAV Airports said it signed an agreement with the Civil Aviation Authority of Saudi Arabia (GACA) regarding the expansion and operation of the airport in Yanbu, together with its partner Al Rajhi Group. 

Located by the Red Sea, Yanbu is a significant industrial and port city. Yanbu Airport will be the second airport in Saudi Arabia to be operated by TAV, following Medina Airport, said the company.

"We are glad to reach an agreement with GACA regarding the expansion and operation of the Yanbu Airport located on the west side of the country. Yanbu is an important industrial hub hosting the oil refineries and the world's second busiest port. Located by the Red Sea, Yanbu also has a serious tourism potential, particularly thanks to its underwater treasures. Its proximity to both Mecca and Medina places Yanbu a significant importance in terms of Hajj and Umrah traffic. We will endeavor to be a true representative of the country and realize the potential of Yanbu Airport," said TAV Airports President and CEO Sani Şener. 

Expected to provide service to a total of 1.2 million passengers in 2017, Yanbu Airport will reach 3 million passengers per annum at the first phase of the project after the construction of the new terminal by TAV, according to the statement. 

TAV has been operating the Medina Airport in Saudi Arabia since 2012. The company has operations in the Jeddah, Riyadh and Dammam airports thanks to its service companies, among...