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 BAC 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. Terms of the financing were not revealed in a statement issued by BAC.

The Express Cargo Village will significantly enhance BIA’s 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, dedicated aircraft parking, aircraft service areas, and modern infrastructure, will streamline operations and better cater to express cargo customers.

Phase One, encompassing 12,500 sq m, is already fully occupied, attracting significant foreign investment, including FedEx.

With Phase Two set to add 52,000 sq m, and substantial interest already confirmed, the project is well-aligned with Bahrain’s Logistics Sector Strategy and reinforces the kingdom’s commitment to its Economic Vision 2030, BAC said.