General Authority for Civil Aviation (Gaca), the national institution of Saudi Arabia in charge of aviation, will meet bankers and investors today (April 7) regarding financing the expansion of the international airport in Madinah, a report said.

The funding for the Muhammad bin Abdul Aziz International Airport expansion will be on a buy, operate and transfer (BOT) basis, said the report in the daily Al-Madinah.

The private sector has been invited by Gaca to join international bidding in association with the public sector for a period of at least 25 years, the report added.

Eligible bidders for the development will be named in May and are required to submit their final bids by September 25, according to the report.