Bahrain Airport Company awards car park deal
Manama, February 25, 2012
Bahrain Airport Company (BAC) has signed up Bahrain Real Estate Investment Company (Edamah) to develop, manage and operate the car parking facilities at Bahrain International Airport (BIA).
The car park expansion plans is aimed at further reducing traffic congestion and enhancing the premium parking services, adding to BIA’s reputation as a friendly and fast airport, said a BAC statement.
Both Bahrain Airport Company and Edamah are wholly owned by Bahrain Mumtalakat Holding Company, the investment arm of the Kingdom.
As per the agreement, Edamah will be managing the development of the car park through a build-own-operate-transfer (BOOT) model.
The project will focus initially on expanding Car Park (A) of the airport building, allowing for more than double the existing capacity by adding another level of shaded parking, with the least disruption to passengers.
The agreement provides for further expansion of car parking at the airport in the future, in accordance with the needs and demands of the airport.
Gordon Dewar, BAC chief executive officer said, 'We are committed to the convenience of passengers and visitors to BIA as we provide better accessibility to premium parking spaces and increases our readiness for the future growth of passengers over the coming years.”
“This major development will use a new model to draw additional funds through revenue sharing which will increase capital and make use of innovative partnerships within companies working under the Bahrain Mumtalakat Holding Company’s umbrella,” he added.
Ahmed Janahi, the acting CEO of Edamah said: 'Bahrain International Airport is a major strategic asset for the Kingdom, where Edamah’s contributions aim to develop the airport car park facilities in line with global best practices.'
“Our company remains committed to utilize our resources and expertise not only to fund and develop the project, but also to ensure we support our partners in achieving their targets and creating the optimal solution for the airport’s current and future car park requirements,” he added.
The MoU allows Edamah to develop a full BOOT solution that will encompass the design, construction, financing, asset management and operation of the car park, said Janahi.
Edamah is expected to issue tenders for the project in the coming months through the Bahrain Tender Board.
BAC aims to lay the foundations for change whilst taking forward active steps for multiple phased enhancements of BIA, as well as exploring and pursuing new ways to deliver improved services, he added.-TradeArabia News Service