JEDDAH: All Saudi airports will be privatized this year, the head of the General Authority for Civil Aviation (GACA), Abdul Hakim Al-Tamimi, told Aleqtesadiah daily.
GACA’s privatization strategy aims to transfer all Saudi airports to companies wholly owned by the Saudi Civil Aviation Holding Co., then transfer ownership of the holding company to the Public Investment Fund (PIF).
The aim “is to improve the level of services provided to passengers, and to convert the targeted sectors into a profitable center to cover costs and to be a source of income for the owner,” Al-Tamimi said, adding that the privatization will be implemented via three methods.
The first relates to the transfer of an airport to a company, similar to what is happening at King Khaled International Airport in Riyadh, where a minority holding is sold. Then an airport board of directors is formed that has powers in the management of the company.
The second method is operation and maintenance, similar to what happened at the new King Abdul Aziz International Airport in Jeddah.
GACA will bear the capital cost of establishing the project, and will share the income with investors.
The third method is the BTO (build, operate and transfer) system, such as what was done with Prince Mohammed bin Abdul Aziz Airport in Madinah, and with Taif, Hail, Qassim and Yanbu airports, which signed contracts with investors.
The employees will be transferred to the investor’s responsibility, who bears the capital cost of the project and shares the income with the authority.
The head of GACA said the privatization will be completed in stages and in the form of groups.
“GACA will be the regulator and controller of the aviation sector in the next phase, in the event of concluding the privatization process,” he said.
Saudi Arabia has hired Goldman Sachs to manage the sale of a stake in King Khalid International Airport, the first major privatization of an airport in the Kingdom, three sources familiar with the matter told Reuters.
The sources said the Saudi Civil Aviation Holding Co. plans to sell a minority stake in the airport, without disclosing a timeframe for th sale.
The size and estimated value of the stake were not immediately known, but the airport is Saudi Arabia’s second-largest after Jeddah’s King Abdul Aziz International Airport.
Faisal Al-Suqair, chairman of the Saudi Civil Aviation Holding Co., said the conversion of airports to companies is the first step in the privatization of airports.
“These airports, after being transferred to companies, will be re-arranged to operate on a commercial basis and become more efficient practically and financially before they are privatized,” he said.
All Saudi airports to be privatized this year
All Saudi airports to be privatized this year
Reconstituted Saudi IP authority’s board of directors approved
- Shihana Alazzaz, who is an adviser at the Royal Court, will continue to serve as chair
RIYADH: The Saudi Authority for Intellectual Property’s newly-reconstituted Board of Directors was approved for a three-year term, the Saudi Press Agency reported Wednesday.
In the reconstituted board, Shihana Alazzaz, who is an adviser at the Royal Court, will continue to serve as chair. She previously served as the deputy secretary-general of the Council of Ministers and was the first Saudi woman to hold the position.
The approval includes extending the membership of Eng. Haitham Al-Ohali, Eng. Osama Al-Zamil, and Dima Al-Yahya.
Badr Al-Qadi and Dr. Mohammed Al-Otaibi join the board as new members.
Alazzaz expressed her thanks and gratitude to King Salman and Crown Prince Mohammed bin Salman for their generous and continuous support for the authority.
She also thanked the previous board members for their efforts and wished the new members success.
The authority’s CEO Dr. Abdulaziz Al-Suwailem, said that the new formation of the board reflects the continued generous support of the leadership for the authority, wishing the Board success.
Grand Mosque authority announces free storage for Umrah performers
- Storage facilities are located near the Makkah Library and Gate 64
MAKKAH: Authorities in the holy city of Makkah announced on Wednesday free luggage storage for Umrah performers.
The General Authority for the Care of the Affairs of the Grand Mosque and the Prophet’s Mosque announced that free storage facilities are available to the east of the Grand Mosque, near the Makkah Library, and to the west, near Gate 64.
Umrah performers must present their permits through the Nusuk app to access the facilities, the Saudi Press Agency reported.
Umrah performers can store bags, not loose items, weighing up to 7 kilograms for a maximum of four hours. Valuables, prohibited items, food, and medicine are not permitted. A claim ticket must be presented for retrieval.
The authority plans to extend the service to encompass all areas around the Grand Mosque to better assist visitors, the SPA added.
King Salman, Crown Prince send condolences to Azerbaijan president
- The King and Crown Prince Mohammed bin Salman also extend sympathies to families of plane crash victims
RIYADH: King Salman and Crown Prince Mohammed bin Salman each sent messages of condolence and sympathy to Azerbaijan President Ilham Aliyev on Wednesday, after the tragic crash of a passenger plane.
The King and the crown prince also extended their heartfelt condolences to the families of those who lost their lives onboard the Azerbaijan Airlines plane, wishing a speedy recovery to the injured, the Saudi Press Agency reported.
On Wednesday morning, the passenger plane, traveling from Azerbaijan to Russia, crashed near Aktau, western Kazakhstan, with 62 passengers and five crew members on board.
Kazakh authorities announced that 28 people had survived.
KSrelief chief meets Palestinian ambassador to Saudi Arabia
- Dr. Abdullah Al-Rabeeah and Mazen Ghoneim discussed Saudi humanitarian efforts to support Palestinians in Gaza
RIYADH: The supervisor-general of the King Salman Humanitarian Aid and Relief Center, Dr. Abdullah Al-Rabeeah, met the Palestinian Ambassador to Saudi Arabia Mazen Ghoneim on Wednesday in Riyadh.
Al-Rabeeah and Ghoneim discussed Saudi humanitarian efforts to support Palestinians in the Gaza Strip, the Saudi Press Agency reported.
Ghoneim expressed his gratitude to KSrelief and praised its strong relationship with the Palestinian people, the SPA added.
KSrelief initiated various projects to support Palestinian hospitals and humanitarian efforts in the Gaza Strip during the ongoing Israeli war.
Earlier in December, KSrelief sent 20 fully equipped ambulances to boost the health sector in Gaza.
It also distributed aid and food parcels that benefited nearly 3,500 Palestinians, some of whom were displaced in the Gaza Strip.
Saudi-Qatari security, military committee meeting held in Riyadh
Saudi Arabia’s Interior Minister Prince Abdulaziz bin Saud bin Naif and Qatar’s Deputy Prime Minister and Minister of State for Defense Sheikh Saud bin Abdulrahman Al-Thani chaired the second meeting of the Saudi-Qatari Coordination Council’s Security and Military Committee in Riyadh on Wednesday.
During the meeting, they discussed ways to enhance cooperation in areas of common interest, to achieve the aspirations of the two nations’ leaders and people, the Saudi Press Agency reported.
Prince Saud praised the efforts made by both sides to achieve joint initiatives.
