Saudi Arabia's Red Sea International Airport now handling domestic and international flights
Operated by daa International, the airport's Main Terminal Building at Terminals 3 and 4 is now handling domestic flights, offering passengers a smooth and elevated travel experience.
International arrivals and seaplane services continue to operate via the dedicated Air Taxi Terminal, ensuring efficient and seamless connections for visitors from around the world.
Red Sea International Airport in Saudi Arabia
Located 90 km south of Al Wajh in western Saudi Arabia, RSI is within three hours' flying time for 250m people and eight hours for 85 per cent of the global population.
The airport's design draws inspiration from the desert, oasis, and sea, creating a tranquil travel environment that reflects the natural surroundings.
The state-of-the-art main terminal is scheduled to be fully operational by the end of 2025, with RSI aiming to serve one million guests annually by 2030.
More destinations and services are expected to be added in the coming months, further cementing RSI's role as a strategic hub for Saudi Arabia's high-end tourism sector.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The National
5 hours ago
- The National
Saudi Aramco signs $11bn Jafurah deal with BlackRock-led consortium
Saudi Aramco on Thursday signed an $11 billion lease and leaseback agreement for midstream gas-processing plants at its Jafurah field with a consortium led by BlackRock's Global Infrastructure Partners. Under the transaction, a newly formed subsidiary called the Jafurah Midstream Gas Company will lease development and use rights for the Jafurah Field Gas Plant and the Riyas NGL Fractionation Facility, and then lease them back to Aramco for a 20-year period. Aramco will hold a 51 per cent stake in the newly formed JMGC subsidiary, with investors led by GIP holding the remaining 49 per cent. The companies said the deal is expected to be closed 'as soon as practicable', subject to customary conditions. Jafurah, the largest non-associated gasfield in Saudi Arabia, is a key player in Aramco's ambitions to increase gas production capacity by 60 per cent between 2021 and 2030. Jafurah is estimated to contain 229 trillion standard cubic feet of raw gas and 75 billion stock tank barrels of condensate. The company has said it anticipates total overall life cycle investment at the project to pass $100 billion. 'Jafurah is a cornerstone of our ambitious gas expansion programme, and the GIP-led consortium's participation as investors in a key component of our unconventional gas operations demonstrates the attractive value proposition of the project,' said Aramco chief executive Amin Nasser. The Jafurah basin, with about 200 trillion standard cubic feet of gas in place, is the largest liquid-rich shale gas play in the Middle East. Jafurah is an unconventional gasfield, which means energy resources are trapped inside layers of rock that require special equipment to access. 'We look forward to Jafurah playing a major role as a feedstock provider to the petrochemicals sector, and supplying energy required to power new growth sectors, such as AI data centres, in the kingdom,' Mr Nasser said. Co-investors in the deal included some in the Middle East and Asia, the companies said. It is expected to capture more from the development of the Jafurah gasfield and support optimisation of Aramco's assets, they said. The companies also said the investment adds to the strong relationship between Aramco and BlackRock. 'Today's announcement builds upon BlackRock and GIP's long-standing relationship with Aramco to serve growing market needs for cleaner fuels, energy security and energy affordability,' said Bayo Ogunlesi, GIP chairman and chief executive.
Zawya
7 hours ago
- Zawya
Aramco inks $11bln midstream deal for Jafurah gas facilities with GIP-led consortium
Aramco announced on Thursday that it has signed an $11 billion lease and leaseback agreement for its Jafurah gas processing facilities with a consortium of global investors led by funds managed by Global Infrastructure Partners (GIP), part of BlackRock. Jafurah, the Kingdom's largest non-associated gas development, is estimated to hold 229 trillion standard cubic feet of raw gas and 75 billion stock tank barrels of condensate. The field is central to Aramco's goal of increasing gas production capacity by 60 percent between 2021 and 2030. Under the deal, a newly formed subsidiary, Jafurah Midstream Gas Company (JMGC), will lease development and usage rights for the Jafurah Field Gas Plant and the Riyas NGL Fractionation Facility, then lease them back to Aramco for 20 years, according to a press statement by Aramco. JMGC will receive a tariff from Aramco in exchange for exclusive rights to process raw gas from Jafurah. Aramco will retain a 51 percent majority stake in JMGC, with the remaining 49 percent owned by investors led by GIP. The transaction is expected to close after meeting customary conditions. Amin H. Nasser, Aramco President & CEO, said: 'As Jafurah prepares to start phase one production this year, development of subsequent phases is well on track. We look forward to Jafurah playing a major role as a feedstock provider to the petrochemicals sector, and supplying energy required to power new growth sectors, such as AI data centres, in the Kingdom.' Past precedents The transaction underscores the trend of monetising oil and gas infrastructure via long term lease back models by the region's national oil companies while retaining operational control. In September 2024, Reuters reported that a BlackRock-managed fund acquired a minority stake in the Saudi–Bahrain Pipeline Company (SBPC) from Bapco Energies. The 112-km pipeline transports crude oil from Saudi Aramco to Bahrain's national refinery In December 2021, Aramco signed a $15.5 billion lease and leaseback deal involving its gas pipeline network with a consortium led by BlackRock and Hassana, the investment management arm of the General Organisation for Social Insurance (GOSI) in Saudi Arabia, Aramco Gas Pipelines Company, 51 percent owned by Aramco and 49 percent owned by investors led by BlackRock and Hassana, has leased usage rights in Aramco's gas pipelines network and leased them back to Aramco for a 20-year period. In return, Aramco Gas Pipelines Company receives a tariff payable by Aramco for the gas products that will flow through the network, backed by minimum commitments on throughput. The deal that started it all In 2019, UAE's ADNOC inked a deal worth $4 billion with a consortium including GIC, BlackRock, KKR and Abu Dhabi Retirement Pensions and Benefits Fund, selling them a 49 percent stake in its subsidiary ADNOC Oil Pipelines (AOP). The agreement involved AOP leasing ADNOC's usage rights in 18 pipelines for transporting crude and condensates from the national oil company's onshore and offshore concessions, and leasing them back to ADNOC for a period of 23 years. In July 2020, ADNOC had sold a 49 percent stake in ADNOC Gas Pipelines - which held 20-year lease rights for 38 gas pipelines spanning 982 km - to an international consortium including GIP, Brookfield, GIC, Ontario Teachers', NH Investment & Securities, and Snam for $20.7 billion. ADNOC, which owns 51 percent in ADNOC Gas Pipelines, pays the latter a volume-based tariff, subject to a floor and a cap, for the use of pipelines that transport sales gas and natural gas liquids (NGL) from ADNOC's upstream assets to Abu Dhabi's key outlets and terminals. In April 2024, local alternative investment firm Lunate acquired a 40 percent stake in AOP from BlackRock and KKR, with a further 6 percent stake acquired from Snam in January 2025, thereby bringing infrastructure back under UAE-based ownership. (Writing by SA Kader; Editing by Anoop Menon)
Zawya
9 hours ago
- Zawya
Saudi: Red Sea International achieves 44% growth in operating profits for H1 2025
Red Sea International Company announced its consolidated financial results for the first six months of 2025, reporting a net profit of SR1.87 million, a 168% improvement compared to the first half of 2024. However, net profit for Q2 2025 reached SR6.39 million, representing a 31% decline compared to Q2 2024. By the end of Q2 2025, revenues for the first half reached SR1,479 million, marking a 54% increase compared to H1 2024. Q2 2025 revenues stood at SR779 million, up 4% compared to Q2 2024. This growth was mainly driven by improved performance and higher project completion rates. Operating profit for the first six months of 2025 reached SR42.8 million, an increase of 44% compared to the same period in 2024. Operating profit for Q2 2025 stood at SR23.72 million, down 10% compared to Q2 2024. This performance improvement in the first half of the year came despite lower overall profitability, primarily due to accounting adjustments related to the Amortization of Purchase Price Allocation (PPA). In 2024, the company carried out a PPA for the acquisition of First Fix Company for Electrical Works Ltd., which resulted in an accounting loss of SR121.75 million in 2024 and SR48.7 million in H1 2025. These losses are purely accounting adjustments required under the International Financial Reporting Standards (IFRS) and do not represent actual operational losses. This has been clarified in the notes to the consolidated financial statements for the periods ending 31 March 2025 and 30 June 2025. To address the impact of the PPA provision, the company is implementing the Board of Directors' recommendation to increase capital by converting debts owed to minority shareholders (the sellers) in First Fix — specifically, the deferred portion of the acquisition price — into shares. The company has submitted this request to the Capital Market Authority, and it is currently under review, with a decision expected soon. © Copyright 2022 The Saudi Gazette. All Rights Reserved. Provided by SyndiGate Media Inc. (
