Parties inked the agreement on the sidelines of the eighth edition of the FII in Riyadh KSIADC will join an extensive network dedicated to developing solutions for worldwide challenges through FII’s platform and global connections JEDDAH: The Saudi aviation sector will benefit from a strategic alliance between the King Salman International Airport Development Co. and the Future Investment Initiative Institute to enhance innovation and sustainability. The two parties inked the agreement on the sidelines of the eighth edition of the FII in Riyadh, a gathering of global leaders and decision-makers in business, politics, and investment. Marco Mejia, acting CEO of KSIADC, and Richard Attias, CEO of the FII Institute, attended the signing ceremony. The KSIADC will join an extensive network dedicated to developing solutions for worldwide challenges through FII’s platform and global connections. KSIADC, one of Saudi Arabia’s sovereign wealth fund firms, supports Vision 2030’s aim of establishing Riyadh as an international hub for transportation, trade, and tourism. Developed in Riyadh, the airport will have six parallel runways and is expected to contribute SR27 billion ($7.18 billion) annually to the Kingdom’s non-oil gross domestic product. Mejia said: “King Salman International Airport is a pioneering project focused on delivering innovative, high-quality, and sustainable solutions,” he said. He added that they are working to set new global standards in airport design and operations to become an international benchmark in aviation. “This strategic partnership with the FII Institute will help achieve this goal, paving the way for a sustainable future that empowers humanity and protects the land,” he said. KSIA will help drive annual passenger traffic in Saudi Arabia from the current 29 million to 120 million travelers by 2030 and 185 million by 2050, with aircraft traffic in the Kingdom increasing from 211,000 to more than 1 million flights per year. The airport is among the ambitious projects supporting the Kingdom’s Vision 2030, leveraging its strategic location connecting Asia, Africa, and Europe, establishing Riyadh as a global destination for transportation, trade, and tourism. The partnership is set to enhance the airport’s standing in innovation and sustainable development, underscoring its contribution to shaping the future of global aviation and building a sustainable world, according to the Saudi Press Agency. Attias welcomed KSIADC to the FII Initiative, adding that: “By joining, the company becomes part of a unique group of leading companies and organizations providing the expertise, strategies, and leadership needed to tackle contemporary global challenges and advance our mission to positively impact humanity.”