Mashreq and UNB sign deal for Abu Dhabi airport expansion

abu dhabi airportThe syndicated loan by Mashreq and UNB will finance Turkey’s Anel Elektrik Proje Taahhut ve Ticaret and Anel Emirates General Contracting to carry out electrical works on the airport expansion site. (Image source: Gert Mewes) UAE lender Mashreq and Union National Bank (UNB) have signed a US$106.7mn deal to finance bonding and working requirements for the Midfield Terminal Building (MTB) at the Abu Dhabi International Airport

According to a Gulf News report, the syndicated loan will finance Turkey’s Anel Elektrik Proje Taahhut ve Ticaret and Anel Emirates General Contracting to carry out the electrical works on the airport expansion site.

The US$2.72bn MTB, being developed by a joint venture of construction firms TAV, CCC and Arabtec, requires electrical works worth US$256.2mn, Gulf News reported.

The MTB will reportedly be the largest in Abu Dhabi covering 700,000 square metres of area. The terminal has been scheduled to open in 2017.

The terminal is being built primarily in two stages, which involves a four-year construction phase, followed by a nine-month Operational Readiness Assessment phase.

Designed by Kohn Pedersen Fox Associates (KPF), in association with Ove Arup, NACO and BNP Associates, MTB will feature a baggage system designed to handle more than 19,000 bags per hour and will be able to accommodate up to 65 aircraft including the Airbus A-380.

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