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RAK Airport Seeks Dh600m Financing Facility
DUBAI — The Ras Al Khaimah International Airport seeks a Dh600 million financing facility to complete its undergoing master development plan, a top official has said.
RAK Airport is working on a three-phased master development project to increase its passenger and cargo capacity. “We have enough money for what we are doing currently, but need money to meet our deadline for the master plan,” the Director, Aviation Business Development of RAK Airport, Allan Lee, told Khaleej Times at Airport Show 2009.
“We are open for all investors such as bank, big investment companies either local or foreign,” Lee said. The airport is undergoing a regeneration programme to increase the number of annual passengers and planes it can handle every year. Lee said that a new cargo terminal would be ready in August and which will increase total cargo handling capacity by 100 per cent to 30,000 tonnes. In addition, a new arrival terminal will start operation by the end of next month.
The cargo area and airfield lighting are also being upgraded. A parallel taxi is being built to increase the capacity of the runway and the apron will be expanded to hold 20 more planes.
“The reason we’re investing to such a degree is because of the promising growth we’ve seen in the airport and RAK itself,” he said.
The Middle East remains the only region globally to record growth in the aviation sector since the downward economic trend began last year.
The master plan of the airport has three stages — short term for 2-5 years, mid term 5-10 years and longer terms 11-15 years. The short term plan includes cargo, mid term will build cargo hangers and provide Maintenance, Repair and Overhaul, or MRO, facilities to big aircraft such as 747 super jumbo and A380. In the mid term plan a brand new terminal with 1.5 million passenger capacity will be built, which will cater to a total 3 million passengers in long term plan stage. In 2008, the airport handled 2,50,000 passengers with around 6,600 aircraft movements. The emirate currently has tourism projects worth about $5 billion under waym, including hotels and airport developments.
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