Hochtief awarded $1.45bn Riyadh airport contract
German contractor is set to work in a joint venture with Shapoorji Pallonji Middle East and Nahdat Al Emaar to expand Riyadh's King Khaled International Airport
German construction group Hochtief said it will take the technical and commercial lead in a $1.45 billion (EUR1.3bn) King Khaled International Airport expansion project in Riyadh.
Hochtief will redesign, upgrade and expand two existing terminals, and demolish and refurbish other parts of the airport infrastructure in a joint venture with Shapoorji Pallonji Mideast L.L.C. and Nahdat Al Emaar, the company said in a statement on Tuesday.
Hochtief has 55% stake in the joint venture. The German contractor was awarded the deal by Saudi General Authority of Civil Aviation (GACA).
Apart from refurbishing and expanding the existing Terminals 3 and 4, the contract also involves the demolition and reconstruction of the aprons inclusive of apron lighting and fueling facilities.
The contract further covers the construction of new terminal lounges and operation buildings, as well as the installation of baggage handling and security systems. Hochtief will also be responsible for installing IT, fire protection and communication systems at the airport.
Marcelino Fernández Verdes, CEO of Hochtief said: "We are delighted to have won this major contract.
"It reinforces our position as an important infrastructure construction group and shows that our international expertise and the know-how of our engineers in the area of complex, large-scale projects are greatly appreciated by our clients."