Saudi Binladin Group bags contracts to build Maldives airport terminal

Saudi Binladin Group, Middle East's largest construction firm, has bagged a contract to build a new passenger terminal at the Maldives international airport.

The Maldives international airport is being built at a cost of $800 million, according to the Maldives government. Binladin will lead the project to construct a new terminal on a 78,000 square meters area of reclaimed landin the southwest of the airport island in Maldives including 12 jetties and six aero-bridges.

Maldives government officials have not revealed the size of the contract with Binladin. The government also said that it is looking to fund its ambitious project from the China Exim Bank, the Kuwait Fund, Abu Dhabi Fund, and the Saudi Fund for Development. Officials from Binladin did not offer any comments on the contract yet.

Binladin Group recently secured a SR2.5 billion or $667 million loan from local banks to improve its financial position. Saudi Arabia had barred the company from bidding for new state contracts after one of its cranes fell in Makkah's Grand Mosque during a storm in September 2016 killing 107 people. The ban was lifted around three weeks earlier.

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