Sharm El Sheikh Airport to undergo expansion
The African Development Bank announced a US$ 140 million loan for part of the renovation, which includes construction of a new building, new runways, a traffic control tower and expansion of facilities.
São Paulo – The African Development Bank (ADB) approved a US$ 140 million loan to finance the expansion of the Sharm El Sheikh International Airport in Egypt. The project includes expansion of current facilities, construction of a new building and additional runways and an air traffic control tower.
The loan was announced by the ADB itself, which said the project will be undertaken in 44 months and will allow the airport to handle an additional 10 million passengers per year. The loan will cover 21% of total spending. The rest will be supplied by the Islamic Development Bank and the Egyptian government, according to news agency Panapress.
*Translated by Gabriel Pomerancblum