Saudi Arabia is set to unveil next month new investment opportunities worth more than $100 billion, as it seeks to further develop its aviation sector.

The investment opportunities, to be revealed at the Future Aviation Forum (FAF24), will include new aircraft orders worth around $40 billion and “other projects” worth around $10 billion, part of which will be for the special logistics areas in the airports of Riyadh, Jeddah and Dammam, according to a statement on Wednesday.

Saudi airports will also account for another $50 billion worth of investment opportunities, which are in line with the Saudi Aviation Strategy (SAS).

The gathering will be held on May 20 to 22, with global executives from Boeing, Airbus, Embraer, COMAC, major airlines, airports and investment groups expected to attend.

The projects that will be showcased include the massive six-runway King Salman International Airport in Riyadh and public private partnerships for the Abha, Taif, Hail and Qassim international airports. Saudi will also showcase opportunities in cargo and logistics, advanced air mobility and business aviation.

Aviation suppliers will get more details about the expansion plans for new airline Riyadh Air, as well as Saudia, Flynas and Flyadeal.

Saudi’s aviation strategy seeks to triple passenger numbers and connect the kingdom to more than 250 destinations. Saudi also aims to accommodate 330 million passengers and 4.5 million tonnes of cargo by 2030.

“Saudi Arabia is the world’s new investment hub, targeting $3.3 trillion in investments by 2030. Aviation is a key investment sector and enabler of the kingdom’s broader economic transformation,” said Minister for Investment Khalid Al-Falih.

(Writing by Cleofe Maceda; editing by Seban Scaria) seban.scaria@lseg.com