Bahrain Airport raises $283.6m for renovation work
Bahrain International Airport has raised $283.6m in financing for the modernisation works
Bahrain International Airport has raised $283.6m (BHD107m) in financing to carry out it's planned Airport Modernisation Programme, Reuters reported.
The facility covers the bonding and working capital requrements of the joint venture completing the work, according to statement from Mashreq which arranged the facility.
Jordan's Arab Bank also joined the financing.
In January, it was revealed that contracts had been signed to carry out the Airport Modernisation Programme at the airport.
This included the appointment of a main contractor for the $1.1bn (BHD414.1m) 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.
In a statement released on 7 February, Bahrain Airport Company said it is working with its facility management arm, BAC Facility Management (BAC FM) in addition to key stakeholders at the airport, to ensure minimum disruption is caused to passenger movement and effective alternative parking solutions are implemented.