Kuwait has assigned to Turkey-based Limak Holding the construction of Kuwait International Airport (KIA) new passenger terminal II meant to boost the airport capacity, Trade Arabia reports.
Limak Holding will carry out the project with Kharafi National, a local Kuwaiti construction company, that was part of the Turkish company’s bid.
The team won after bidding $4.34 billion for the project, Trade Arabia notes.
A part of the needed amounts to construct the terminal, $831.3 million, will be provided in the form of a syndicated loan facility by two state entities, namely National Bank of Kuwait (NBK) and Kuwait Finance House (KFH).
The project upon completion will increase the number of passengers three-fold, to 25 million.
Limak Holding was founded in 1976 and operates across several sectors namely construction, cement industry, energy, food industry, port and airport management as well as tourism.
