Private-Public Venture Funds $1B Saudi Airport Project

Law360, New York (July 2, 2012, 8:16 PM EDT) -- A group of Middle East investors, developers and banks will provide $1.1 billion over three years to redevelop an airport in Saudi Arabia under the advisement of the country's General Authority of Civil Aviation and global development bank International Finance Corp., IFC announced Monday.

Turkish airport operator TAV Airports Holding Co., developers Saudi Oger Ltd. and Al Rajhi Holdings, the National Commercial Bank, Arab National Bank and SABB have agreed to jointly fund the first airport built under a public-private partnership in a Gulf Cooperation Council...
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