Skip to content Skip to Search
Skip navigation

Irish firm bags $266m operations contract for Saudi Red Sea airport

By Pramod Kumar
Clothing, Apparel, Person TRSDC
The Irish firm will serve as the airport operator in 2023, supervising the design consultancy, management and operations of the airport.

The Red Sea Development Company (TRSDC) has appointed Dublin-based daa International as the operator of Red Sea International, which will be the region’s first carbon-neutral airport.

The developer of mega projects – Red Sea Project and Amaala – signed a SAR 1 billion ($266 million) deal with the Irish company for operations and general maintenance services, according to a company statement.

The Irish firm will serve as the airport operator from 2023, supervising the design consultancy, management, and operations, in line with the provisions of the Saudi General Authority of Civil Aviation (GACA) and the International Civil Aviation Organization.

“As the region’s first-ever airport powered by 100 percent renewable energy, RSI will serve as an innovative blueprint for decarbonised urban destinations of the future,” said TRSDC CEO John Pagano.

RSI has been designed by international architecture firm Foster + Partners and is gearing up to welcome its first passengers in 2023.

The airport will have the capacity to serve an estimated one million domestic and international tourists per year by 2030.

The airport will have a runway for seaplanes and water aerodromes, regulated by GACA safety guidelines.

It will service hydrogen-powered seaplane variants, supplied by hydrogen-electric aviation firm ZeroAvia, electric vertical takeoff, landing and electric short takeoff and landing aircraft technology, the statement said.

Latest articles

Investor Tim Draper told AGBI the US must 'swing back to freedom' to avoid losing innovation to countries such as the UAE

Tim Draper: UAE benefits from US crypto ‘overregulation’

Billionaire venture capitalist Tim Draper has criticised the US for its restrictive stance on cryptocurrency, claiming it is driving innovators towards more encouraging and friendlier markets such as the UAE. The Gulf state is actively developing regulatory frameworks to lure new forms of business, amid intense regional economic competition. Dubai and Abu Dhabi have set […]

A subsidiary of Banque Misr will open the first digital-only bank in Egypt this year

Egypt to open first digital bank later this year

Misr Digital Innovation will open Egypt’s first digital bank towards the end of the year, as it looks to appeal to the North African’s country’s younger and unbanked demographic. MTI, a subsidiary of Banque Misr, is the first bank to have received approval to establish a digital bank by the Central Bank of Egypt (CBE) […]

Mukesh Ambani, chairman and managing director of Reliance Industries which will receive the investment from AIDA and US-based KKR

Abu Dhabi’s ADIA invests in Indian warehouses

The Abu Dhabi Investment Authority (ADIA) and the US-based private equity firm KKR have invested INR 12,000 crore ($1.5 billion) in India’s Reliance Retail Ventures’ warehousing assets.  Both companies have invested equal amounts in Reliance Logistics and Warehouse Holdings (RLWH), The Economic Times, an Indian financial daily, reported, citing informed sources.  RLWH was established in […]

Saudi Arabia’s industry and mineral resources minister Bandar Al-Khorayef. The country is struggling to meet an FDI target of $100bn a year by 2030

Saudi industry minister tempts investors with funding incentives

Saudi Arabia’s ministry of investments and mineral resources is prepared to finance up to 75 percent of industrial projects in the country, as the kingdom tries to boost its low foreign direct investment (FDI) numbers.  Bandar Al-Khorayef, the minister of industry and mineral resourcespointed to well-developed infrastructure across 36 industrial cities, prefabricated factories ready to […]