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Saudi Binladin wins deal on $800m Maldives airport

SBG will lead a passenger terminal building's construction at the airport, but the size of its contract with Maldives' government has not been revealed

SBG has secured a $667m loan, it was reported last week.
SBG has secured a $667m loan, it was reported last week.

Saudi BinLadin Group (SBG) has reportedly inked a contract for the construction of a passenger terminal building at the Maldives International Airport. 

SBG is due to lead the terminal's construction on a 7.8ha area of reclaimed land, with 12 jetties and six aero-bridges. 

Maldives government officials declined to comment on the size of the contract with SBG. 

The airport's total cost is $800m, and Maldives is seeking funding from the China EXIM Bank, the Kuwait Fund, Abu Dhabi Fund, and the Saudi Fund for Development, according to Reuters.

The project marks SBG's foray into Maldives. 

Last week, the contractor secured a $667m (SAR2.5bn) loan from local banks as it looks to cut its losses amid tight government spending in Saudi. 

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Construction Week - Issue 753
Nov 09, 2019