Mubasher: Turkey's Limak İnşaat has signed a KWD 249.2 million ($832 million) syndicated loan agreement with the National Bank of Kuwait (NBK) and Kuwait Finance House (KFH) to complete the new passenger terminal II at the Kuwait International Airport (KIA).

NBK and KFH will jointly finance KWD 124.6 million each for the construction, completion, furnishing, and maintenance of KIA’s terminal, according to the international constructor's statement.

“Under the agreement, NBK is the mandated lead arranger, inter-creditor agent, security agent and account bank, and KFH is the mandated lead arranger and commodity murabahah investment agent,” the statement added, giving no further details on the project's timetable. 

The terminal is designed to handle 25 million passengers per year and accommodate all aircraft types through 51 gates and stands.