The Department of Civil Aviation (DCA) is negotiating with a consortium of banks to obtain around Dh10 billion financing for the remaining projects under the Dh15 billion ($4.1 billion) expansion of Dubai International Airport.
The financing is expected to be finalised this summer and an announcement could be made by the DCA in September, Khalifa Suhail Al Zaffin, DCA director for engineering projects, said while announcing details of the Airport Build and Supply Exhibition, which begins at the Airport Expo Dubai tomorrow.
Development of airports and aviation facilities in the Mideast is estimated to be worth $15 billion. These include $4.1 billion for Dubai International Airport's expansion, $5 billion for the New Doha International Airport.
"The negotiations could be finalised in the coming months and we expect an announcement to be made in September So far, we have been financing the expansion with the funds generated by the DCA's own resources," he said.
Al Zaffin also announced, for the first time, that the existing Terminal 1 would be expanded to add 9,350 square metres of new office space, increase the number of belts to 10 from the existing 7 at the baggage claim area, while adding 16 new contact gates at the immigration and passport control to the present 30. It also announced to add two new E-gates to the existing four.
The overall expansion programme includes the construction of a third terminal and two new concourses, to be used exclusively by Emirates, a $137 million upgrade to the existing Terminal 2 and the construction of Cargo Mega Terminals (CMTs).
Al Zaffin said, "About 10 million cubic metres of earth have already been excavated for the underground Terminal 3.
"Contractors have already put 665,000 cubic metres of concrete out of a 2.5 million cubic metres so far.
"We expect to finish Terminal 3 and Concourse 2 by 2006, Concourse 3 by 2008 and CMTs will be built in phases and completed by 2018. Some of the earthworks for the CMTs are being carried out, while materials handling system for these are being designed in Germany as we speak," he said.
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