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Saudi Arabia to finance Jeddah, Riyadh airports through bonds issuance
- Saudi Arabia: Monday, December 31 - 2012 at 04:16
Saudi finance minister Ibrahim Alassaf has said the government is set to issue bonds in 2013 backed by the kingdom's ministry of finance to fund construction work at airports in Riyadh and Jeddah, Reuters has reported. "The rest of the bonds for King Abdulaziz Airport in Jeddah and King Khaled Airport in Riyadh will be issued this (coming) year," Alassaf told Al Arabiya television yesterday. Last January, General Authority for Civil Aviation (GACA) said announced plans to issue a second sukuk at the end of 2012 to help fund its SR27bn ($7.2bn) airport in Jeddah.
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