Sukuk is the way to fund Jeddah’s $7.2 billion new airport; Saudi civil aviation is set to be on its own
Sukuk will fund the new $7.2 billion airport project that is anticipated to issue in Jeddah within two months, inspite of a four-week delay of works related to the project. The statement came from head of the General Authority of Civil Aviation in Saudi Arabia, Prince Fahd bin Abdullah bin Mohammed al-Saud.
He also added that there are plans to change the General Authority of Civil Aviation to a stock-holding company and it will constitute four companies, specializing in four departments including international airports, domestic airports, air navigation, technology transfer and information.
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