GACA starts to finance airport project

11 January 2012: Saudi Arabia's General Authority for Civil Aviation (GACA) has started issuing Islamic bonds to finance the development project for King Abdulaziz International Airport (KAIA) in Jeddah, which is estimated to cost SR27.11 billion. KAIA is the main gateway of pilgrims coming for Haj and Umrah. Last year, the airport handled more than 2.5 million domestic and foreign pilgrims on board 10,650 flights. The expansion would increase the airport's annual capacity to 30 million.

Source: Ameinfo