Saudi Arabia has awarded Germany's Fraport two contracts worth 417.5 million riyals ($111.3 million), state news agency SPA reported.
The two contracts, each of which will last six years, involve the commercial management of the kingdom's two largest airports, located in the capital Riyadh and the Red Sea port city of Jeddah, SPA said.
Fraport's chief executive Wilhelm Bender said in November his firm aims to expand further outside Germany to boost revenues.
A third, similar contract worth 162 million riyals was granted to Singapore's Changi International Airports Co, SPA added. -Reuters