Middle East countries to invest USD 119bn in airport expansion in 5 years.

By bne IntelliNews October 21, 2011
Countries in the Middle East plan to invest AED 437bn (USD 119bn) to expand and improve their airports in the next five years, Trade Arabia reported. Dubai Airports has already announced plans to invest AED 28.4bn to implement the fourth phase of Dubai Airports expansion aimed to boost annual capacity to over 90mn passengers, Mohamad Bader-Eddin, show director at Reed Exhibitions Middle East said. Saudi Arabia is to invest AED 27bn in a new airport, while Oman will spend AED 1.2bn to upgrade its Muscat and Salalah airports. Kuwaits airport expansion programme envisages investments of AED 172mn in, while Qatar said it will spend USD 4bn on the sector.
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