Finance Ministry discusses airport development with Saudi Fund

Ministry of Finance has held discussions with Saudi Fund for Development (SFD) on developing Velana International Airport (VIA).

Delegates from SFD visited the airport on Wednesday, and attended a meeting with Finance Minister Ibrahim Ameer following the visit. During the meeting, Vice Chairman of SFD and Managing Director Dr. Khalid Bin Sulaiman Al-Hudhairy spoke on the ongoing airport project with the Finance Minister.

The airport development project undertaken by the government costs over US$ 800 million. The construction of a new passenger terminal has been handed over to Saudi company Saudi Bin Laden Group but is currently facing several delays due to slow progress. A US$ 373 million runway measuring 3,400 meter in length has already been developed by Beijing Urban Construction Group under the same project.

A new cargo terminal and a fuel storage system will also be established under the project. A large percentage of the project is expected to be completed by the end of the year.