Riyadh – Mubasher: Saudi Arabia intends to build a new airport in Riyadh in a bid to increase the number of tourist arrivals.
The new facility would serve as a base for a new airline company which the sovereign wealth fund, Public Investment Fund (PIF), plans to launch, Bloomberg reported.
The fund has plans to invest billions in a new international airport in Riyadh, yet its size and timeline for construction have not been determined and the PIF could also decide not to move ahead with the plans.
Earlier this year, it was reported that PIF would set up an airline company to compete with major aviation firms across the region.
Saudi Arabia plans to attract approximately 100 million arrivals annually by 2030.
