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.