AFDB to fund construction of Egyptian Airport

Sharm El-Sheikh International airport
Sharm El-Sheikh International airport

The Sharm El-Sheikh International airport has received US$140 million from the African Development Bank (AFDB) to facilitate its expansion project.

The expansion involves constructing a new terminal (terminal 3) and a runway in order to increase the passengers handling capacity by 10 to 18 million per year.

Sharm El- Shark International airport (formerly Ophira Airport) is located about 23KM northeast of the city of Sharm el –Sheikh in Egypt.

The airport is the second largest after Cairo International Airport and it is conveniently situated to suit the tourists visiting the beaches and resorts in the Red Sea.

Once complete the project will offer employment opportunities and improve the country’s economy by boosting the tourism sector.

The terminal will have roofing that will provide shade to the passengers and natural lighting in the building.

Other facilities to be constructed around the terminal include security shed, car park, wastewater treatment and electrical plant.

AFDB has approved over 4,501 projects amounting to $118.7 billion from 1967 when it commenced its operations by the end of 2013. In addition, Islamic Development Bank (IDB) last year October announced it would contribute US$230.2m for the same project.

AFDB has pledged to continue supporting the Egyptian government through increased lending which will finance the irrigation and energy sectors and small medium enterprises (SMEs).

The country is undertaking more projects that will boost tourism, including a real estate development by Qatari Diar, worth US$2.16 billion.

1 COMMENT

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