Five European Banks Bid for New Algerian Airport
Five European banks placed bids on March 25 to complete and upgrade a new airport in Algiers, reported the Middle East.
Work on the project began 15 years ago but was abandoned due to lack of funds, said the weekly.
The five banks involved are Germany's Deutsche Bank, Britain's Sterling Merchant Bank, and France's BNP-Paribas, Societé Générale and the Caisse de Depot et de Consignation.
The opening of tenders took place on March 25 at the Algerian Transport Ministry in the capital, said the weekly, adding that an evaluation committee will choose the winning offer.
Algeria hopes to see the airport completed by launching a call to foreign investors, which should be able to reap benefits from the airport by working on concession.
The government has also appealed to foreign financial backers in order to complete the Algiers underground railway system and an east-west motorway – Albawaba.com
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