The World Bank has awarded a Turkish company a tender to build Cairo Airport's third passenger terminal at a cost of $350 million, according to an Egyptian aviation official. Chairman of the Airports and Air Navigation Holding Company, Ibrahim Manna'a added the World Bank would fully finance the project.
According to Manna'a, the stage of negotiations with the Turkish firm will be concluded by early next month. He said the Turkish bidder has an Egyptian public sector partner, the Holding Company for Road and Bridges Construction.
The Turkish contractor won the deal from among seven bidders, Manna'a disclosed, noting that the project was the first airport building to be financed by the World Bank in 12 years.
Manna'a said the construction works will start bythe end of this year.
The World Bank's Executive Board of Directors approved a loan of $335 million for the Airports Development Project in Egypt. The project will assist the Egyptian authorities in enhancing the efficiency of airport management and doubling the capacity of passenger terminals at Cairo and Sharm El-Sheikh International Airports by financing new passenger terminals, said the World Bank on its website.
In addition, the project aims at improving airport service quality and promoting private sector participation in airport management and service delivery in a competitive market.
With nearly 50 per cent of Egypt's passenger traffic passing through Cairo International Airport and actual passenger traffic close to the maximum capacity of nine million passengers, Cairo International Airport is not equipped to absorb additional traffic without a rapid deterioration in service standards.
This is especially critical since three-quarters of passengers arrive from foreign countries. The expansion of cargo traffic is also being constrained by congested facilities. (menareport.com)
© 2004 Mena Report (www.menareport.com )