UAE to pay $918m of $1bn Bahrain airport expansion
Bahrain's King laid the foundation stone for the expansion project, the largest share of which will be paid for by Abu Dhabi Fund for Development under a $2.5bn programme
Following onsite preparation activities reported earlier this month by Construction Week, building activity has officially commenced on the $1.1bn (BHD414.1m) expansion of Bahrain International Airport.
Prince Khalifa bin Salman Al Khalifa, Prime Minister of Bahrain, laid the foundation stone for the massive expansion project.
Also in attendance at the ceremony was Mohammed Saif Al Suwaidi, director general of Abu Dhabi Fund for Development (ADFD).
ADFD has contributed $918m (AED3.73bn) to the expansion project, Al-Suwaidi revealed.
Accordingly, ADFD will cover the last share of the project's total cost.
The contribution comes as a part of the GCC development programme, agreed upon in 2013.
ADFD has committed to spend $2.5bn (AED9.19bn) for Bahrain's infrastructure development, which includes transportation, housing, energy, and road sectors, over the next 10 years.
Remarking on ADFD's investment, Al-Suwaidi, said: "Investing in an exciting project such as this airport expansion is an important driver of these ambitions and we look forward to seeing the project progress and take shape."
Last month, Bahrain's Ministry of Transportation and Telecommunications announced it will carry out an extension programme at the Kingdom's international airport.
Contracts have been signed to carry out the Airport Modernisation Programme at Bahrain International Airport, Kamal Bin Ahmed Mohammed, the country's transport minister, and Mohammed Al Binfalah, CEO of Bahrain Airport Company, said.
This includes the appointment of a main contractor for the construction of a new terminal building, the main services building, and aircraft bay, to a joint venture between the UAE's Arabtec and Turkey's TAV Construction.