Sources said that Saudi Arabia has suspended plans to finance the expansion of Riyadh airport, with a potential value of billions of dollars, in an indication that the Kingdom is reassessing strategic priorities after the Corona virus crisis.
The Riyadh Airports Company, which manages and operates King Khalid International Airport in the Saudi capital, contacted banks last year to request funding proposals for the planned expansion of the airport, which sources said would be in the multi-billion dollar range.
Three banking sources said the company is now suspending the operation.
One of the sources, who spoke on condition of anonymity because the matter is not made public, added: “At this stage, the matter was canceled .. In this environment, I think they decided that it is not necessarily logical to borrow money to expand the airport now.”