TAV Airports bids $4.3B for Kuwait Airport Terminal

TAV Airports Holding (TAVHL) announced today in a disclosure to the Public Disclosure Platform (KAP) that it submitted a bid on June 23, 2024, for the operation and maintenance services tender of Kuwait International Airport Terminal 2, initiated by the Kuwait Civil Aviation Authority.

Delayed disclosure clarification

Besides the bid announcement, the company highlighted that this disclosure was previously postponed, stating: “Under Article 6 of the Capital Markets Board’s Communique II-15.1 on Special Circumstances, the decision of our Board of Directors regarding the aforementioned tender dated May 24, 2024, was postponed to prevent adverse effects on a process requiring confidentiality, to safeguard the legal rights and interests of our company, and to prevent the misleading of investors regarding a process that has not yet been finalized.”

Turkish construction group wins terminal 2 contract

Terminal 2’s construction contract was awarded to a Turkish construction group Kuwait International Airport Terminal 2 represents the airport’s initial expansion project, with plans to initially serve approximately 13 million passengers.

A Turkish construction group had won the construction tender for Terminal 2. Future phases of expansion aim to increase passenger capacity up to 25 million.

The construction contract for the project was estimated at $4.3 billion.