Kuwait Finance House to finance construction of new terminal at Kuwait International Airport

    Kuwait Finance House, via its official Facebook account, announced (21-Feb-2018) a syndicated credit facilities agreement was signed for the construction of a new terminal at Kuwait International Airport. The KWD249.2 million (USD831.3 million)  agreement was signed with Limak Holding, which recently won an award to build the terminal (TradeArabia News Service, 21-Feb-2018). The airport’s capacity will increase to accommodate 25 million passengers p/a once complete, as well as all aircraft types. Kuwait‘s General Civil Aviation Authority (GCAA) head Abdullah Al-Subaie confirmed Kuwait is ready to enter the aviation market as a major competitor in the region (KUNA, 21-Feb-2018). Kuwait recently met with Qatar CAA officials to discuss ways to strengthen bilateral relations between the two countries and develop cooperation. The two countries also touched on the possibility of opening up fifth freedom rights, allowing carriers more flexibility to operate services between Kuwait and Qatar.