Al Mal Investment Company (Al Mal) and Saudi Arabia’s General Authority of Civil Aviation (GACA) signed a memorandum of understanding (MoU) to build the Hail International Airport. The 30 billion dollar (Dh 29.3 bn) airport will be located in the Prince Abdul Aziz Bin Musaed Economic City (Pabmec), about 720 kilometers north of Riyadh, Saudi Arabia. Al Mal is the investment arm of M.A. Kharafi Group of Kuwait, and the main developer of Pabmec, which is envisaged as an integrated hub for commerce and industry.
Gaca president, Engineer Abdullah Rahimini, speaking at the signing ceremony, said Gaca is working hard to develop infrastructure facilities in the aviation sector in accordance with directives given by King Abdullah Bin Abdul Aziz and Crown Prince Sultan Bin Abdul Aziz, who is also deputy prime minister and minister of defence and aviation. Rahimi said the new airport will be a big boost in transforming Pabmec into a premier hub for transportation and logistics, mining, information technology, agricultural manufacturing, education, and smart infrastructure.
