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The Express Cargo Village will feature advanced warehouses, aircraft service areas, and modern infrastructure Bahrain Airport Company (BAC), the operator and managing body of Bahrain International Airport (BIA), has signed a 15-year loan agreement with Bank of Bahrain and Kuwait (BBK) for further development of the Express Cargo Village, a major project at Bahrain International Airport. The signing ceremony was held at the Awal Private Terminal at Bahrain International Airport with the agreement signed by Bahrain Airport Company Chief Executive Officer Mohamed Yousif AlBinfalah, and BBK General Manager Corporate Banking Nadeem Al Kooheji. Under this agreement, BBK, selected through a competitive tender board process, will provide the necessary financing for the construction and development of the project. The Express Cargo Village will feature advanced warehouses, aircraft service areas, and modern infrastructure. Terms of the financing were not revealed in a statement issued by BAC. The Express Cargo Village will significantly enhance BIAs cargo capacity, projected to reach 1.3 million tons annually, up from the current 360,000 tons. The state-of-the-art facility, with its advanced warehouses and dedicated aircraft parking, will streamline operations and better cater to express cargo customers, while also creating new job opportunities. Phase 1, encompassing 12,500 sq m, is already fully occupied, attracting significant foreign investment, including FedEx. With Phase 2 set to add 52,000 sq m, and substantial interest already confirmed, the project is well-aligned with Bahrains Logistics Sector Strategy and reinforces the Kingdoms commitment to its Economic Vision 2030, BAC said. AlBinfalah said: “BBK has been a longstanding and trusted partner, and this collaboration builds on our previous successful partnerships. The Express Cargo Village is a crucial component of Bahrains national logistics strategy, launched in 2021, and contributes to Bahrain’s Economic Vision 2030. This project will enhance BIAs logistics capabilities and position Bahrain as a regional logistics hub. We thank BBK for their support and trust in BACs vision for transformative projects like the Express Cargo Village.” Nadeem Al Kooheji said the partnership agreement to finance the “Express Cargo Village” project reflects the bank’s commitment to supporting large-scale projects and enterprises that drive economic development and foster social growth. This initiative aligns with BBK’s overarching strategy to finance commercial and investment ventures, with a particular emphasis on facilitating access to essential financial solutions that enable businesses to launch, expand, and sustain their operations. The agreement signifies a major step forward in the development of the Express Cargo Village and underscores BACs commitment to driving economic growth and innovation in Bahrains aviation sector. |
