Tibah Airports Operation Co.

TIBAH Airports Operation Co. operates Prince Mohammad International Airport in Madinah. The Government of Saudi Arabia realized from the outset the importance of the private sector as an economic development partner, and the civil aviation sector is ambitious; having ideal investment factors. The Kingdom of Saudi Arabia is a country with an important geographical location and a unique religious significance in the Muslim world. Furthermore, due to its economic strength and openness, investments in the sector are attracted to the belief that they will be successfully developed. Given the importance and the role of the air transport sector in the service of pilgrims and visitors to the Prophet's mosque, the government was directed to transform Prince Mohammad Bin Abdulaziz Intl. Airport in Madinah to a world-class airport. In this context, international participation was ensured in this project, the first Public-Private Partnership (PPP) project in KSA; with an ambitious plan to modernize and expand the airport with private sector participation under the long-term concession. Ten international, regional, and local firms submitted qualification applications. Four consortia ultimately submitted bids on 8 August 2011. Technical bids were evaluated and scored before opening financial bids. After determining a final score, Tibah was awarded the concession. On 29/10/2011 the Build, Transfer, and Operate Agreement (BTO), was signed between the GACA and Tibah to initialize the first airport project in the Middle East to be fully built under PPP. The project was inaugurated on 2nd July 2015 by The Custodian of the Two Holy Mosques King Salman bin Abdulaziz al Saud, in the presence of other major dignitaries from the kingdom. The $1.2 billion expansion plan consists of a three-level terminal covering over 156,940 square meters with 16 aircraft stands and boarding bridges.