Dubai: The first tender to expand Al Maktoum International at Dubai World Central’s (DWC) to handle 120 million passengers a year will be awarded on May 28, said Shaikh Ahmad Bin Saeed Al Maktoum, President of Dubai Civil Aviation Authority and Chairman and Chief Executive of Emirates airline and Group, on Monday.
Al Maktoum International, a future mega hub to one day handle as many as 250 million passengers a year, is at present being expanded from 5 million passengers a year to 25 million by the end of 2017. It will later be expanded to handle 120 million passengers by the mid-2020s when Emirates is scheduled to move over from Dubai International.
“The first tender [for the 120 million passengers] should be [awarded] on the 28th of this month,” Shaikh Ahmad told reporters at an exhibition in Dubai.
He did not say what the tender would cover.
Shaikh Ahmad is also chairman of Dubai Aviation Engineering Projects (DAEP), responsible for the master planning, designing and engineering for Dubai’s airports, and chairman of operator Dubai Airports.
Emirates, one of the world’s largest airlines, will release its financial results on Tuesday.
The airline made Dh4.6 billion in its last reported financial year while the Group made Dh5.5 billion.
“Inshallah, I am optimistic,” Shaikh Ahmad said of Tuesday’s announcement.
Shaikh Ahmad, who is also chairman of the Dubai Supreme Fiscal Committee, declined to say whether Dubai is planning to issue a sovereign bond.
Neighbouring Gulf states Saudi Arabia and Qatar are both said to be planning multi-billion dollar bonds while Abu Dhabi raised $5 billion in a bond sale last week.
“I always say when there is a need you go to the market,” Shaikh Ahmad said.
Arab Gulf governments are looking to public markets to raise capital after the more than halving in the oil price has led to larger budget deficits.
