RIYADH, Nov. 29 -- Saudi Arabia on Monday announced plans for a new airport in Riyadh intended to spur rapid growth in the capital while advancing the kingdom's ambitious aviation goals.

The airport, set to accommodate 120 million travellers by 2030 and 185 million travellers by 2050, will be named after 86-year-old King Salman and was announced by his son, 37-year-old de facto ruler Crown Prince Mohammed bin Salman, according to the official Saudi Press Agency.

"The airport project is in line with Saudi Arabia's vision to transform Riyadh to be among the top ten city economies in the world and to support the growth of Riyadh's population to 15-20 million people by 2030," SPA said.

The city's current population is fewer than eight mill...