(MENAFN- Bangladesh Monitor) Riyadh : Saudi Crown Prince Mohammed bin Salman announced on November 28 plans to transform Riyadh airport into an aviation hub with six parallel runways, designed to accommodate up to 120 million travellers by 2030.
Saudi Arabia's sovereign wealth fund, the Public Investment Fund (PIF), will build King Salman International Airport, which should stretch over 57 square kilometres (22.01 square miles) and include current King Khaled airport, reports said.
'The airport project is in line with Saudi Arabia's vision to transform Riyadh to be among the top ten city economies in the world and to support the growth of Riyadh's population to 15-20 million people by 2030,' added reports.
King Salman airport would create 103,000 direct and indirect jobs, handle 185 million travellers and process 3.5 million tons of cargo by 2050, as per reports.
The PIF's aviation department is getting hefty funds to create an ecosystem of cargo and passenger airlines, repair companies and airports.
The 77-year-old state airline Saudia will be based out of the Red Sea city Jeddah under the transportation strategy that calls for the establishment of the two hubs.
The kingdom is already in talks with planemakers Airbus SE and Boeing Co on orders for the two carriers Saudia and RIA.
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