This is an important milestone in the Kingdom’s use of the private sector to build and operate public assets by way of “public private partnership” (PPP). The PPP initiative is a critical pillar of Vision 2030’s strategy to transform and diversify the Saudi economy.
The SATS Cargo Terminal at Riyadh’s airport, King Khalid international Airport (KKIA) will be constructed over two phases, with the first phase expected to be complete in mid-2022.
The AS&H team was led by Dr Fahad Abuhimed (Managing Partner, and Head of Regulatory, AS&H), Yasser Al Hussain (Partner and Head of Banking and Finance, AS&H), Mohammad Hamra-Krouha (Clifford Chance Partner in Abu Dhabi) Richard Parris (Clifford Chance Partner in Abu Dhabi) and Daniel Royle (Clifford Chance Partner seconded to AS&H) with Ali Ansari (Clifford Chance Senior Associate seconded to AS&H) and Mohammed Ghazzawi (Associate) providing support.
Daniel Royle said: "We are delighted to be working with “Riyadh Airports” Company on this landmark transaction, which represents a significant milestone in the development of the logistics sector in the Kingdom of Saudi Arabia a key pillar in the Vision 2030. We are also pleased to see another PPP go to market, working alongside the team at the National Centre for Privatisation & PPP."