Consortium of banks offers Dh4 billion for construction of Midfield Building at Abu Dhabi's International Airport

Abu Dhabi, Oct 2, 2012 (WAM) - A consortium of Banks including Al Hilal Bank, First Gulf Bank, Mashreq, Union National Bank and Arab Bank have announced the signing of the Dh 4 Billion syndicated contracting facility with the joint venture (JV) between TAV-CCC-Arabtec for the construction of Midfield Terminal Building at Abu Dhabi's International Airport. The Joint Mandated Lead Arrangers, Al Hilal Bank, First Gulf Bank, Mashreq and Union National Bank co-led the financing coordinated by Mashreq and Arab Bank participated in the deal as a Lead Arranger. The Midfield Terminal Complex, which is the centrepiece of ADAC's multibillion-dollar investment programme was awarded to the joint venture of TAV, CCC and Arabtec for Dh 10.8 billion on 27 June 2012 and is expected to go live in the first half of 2017. The MTC building will be the largest in Abu Dhabi comprising of 700,000 meters squared and is destined to become the primary gateway for airlines operating to Abu Dhabi and will also home the national carrier of the UAE, Etihad Airways. Approximately 84,000 tons of steel will be used for the construction and the midfield terminal building will have a roof area of 225,000 meter squares and a total facade area of 200,000 meter squares. Once completed, The Terminal will be capable of handling 27 million passengers per year from all around the world. – Emirates News Agency, WAM