Cabinet lauds King Salman International Airport masterplan
New project will make Riyadh ‘global destination for transport, trade, tourism, bridge linking East, West’
The Saudi Cabinet on Tuesday lauded plans announced by Crown Prince Mohammed bin Salman to build what will become one of the world’s largest airports in the Kingdom.
Backing for the initiative came during the Council of Ministers’ weekly meeting, which was chaired by King Salman at Al-Yamamah Palace in Riyadh.
In a statement, the Cabinet said the new project would make Riyadh “a global destination for transport, trade, and tourism, a bridge linking the East and the West, and establish the Kingdom’s position as a global logistics center.”
The crown prince announced on Monday a masterplan to build what would become one of the world’s largest airports and in the process boost Saudi Arabia’s ambition to become a global hub for trade and tourism.
King Salman International Airport, located in Riyadh, will have six parallel runways, and is expected to contribute SR27 billion ($7.18 billion) annually to the country’s non-oil gross domestic product.
It was anticipated that the airport would help drive annual passenger traffic in Saudi Arabia from the current 29 million to 120 million travelers by 2030, and 185 million by 2050, with aircraft traffic in the Kingdom increasing from 211,000 to more than 1 million flights per year.
The new airport was also expected to create 103,000 jobs in line with Saudi Vision 2030 objectives.
The announcement came as part of the Public Investment Fund’s strategy focusing on unlocking the capabilities of promising sectors to enhance Saudi Arabia’s efforts in diversifying the economy.
Cabinet members also discussed recent meetings held between Saudi officials and their counterparts from several countries on broadening horizons and enhancing cooperation with the international community. In addition, a letter sent on Tuesday by King Salman to the emir of Kuwait discussing bilateral relations and historical ties was commented upon, too.