GMR Group Qualifies for $800 Million Saudi Airport Project

GMR Group has qualified to bid for the $800 million Taif International Airport project in Saudi Arabia. The project will be conducted under a Public-Private Partnership model with a Build-Transfer-Operate contract for 30 years. Other qualified bidders include international consortia from India, Turkey, Ireland, and others.

GMR Group has secured a qualifying bid submission for the $800 million development of the new Taif International Airport in Saudi Arabia. This was confirmed by the National Center for Privatisation & PPP of the Arabian nation.

In addition to GMR, several other consortia have qualified to bid. These include the Bengaluru International Airport Ltd – Tamasuk consortium, Turkey's TAV Airports – Mada International Holding consortium, and the Daa International-led consortium from Ireland, along with the Kalyon Insaat consortium.

The development will use a Public-Private Partnership model and is set under a Build-Transfer-Operate agreement for 30 years, offering a fully equipped passenger terminal and necessary infrastructure. The initiative aims to meet future demand projections and serve as an alternative for Umrah pilgrims within the regional multi-airport system.

(With inputs from agencies.)