Bahrain airport raises 107m dinars to fund modernisation work

Dubai: Bahrain International Airport has raised 107 million dinars ($283.6 million, Dh1 billion) in financing for the modernisation of the airport, a statement from the lenders said on Wednesday. The facility covers the bonding and working capital requirements of the joint venture completing the work, according to a statement from Mashreq, which arranged the facility. Jordan’s Arab Bank also joined the financing.

The joint venture includes Dubai-listed Arabtec Holding and Turkey’s TAV Construction (TAV), which was appointed to complete the main work for the $1.1 billion modernisation and expansion project in January.