The government has decided to re-issue a tender “soon” to develop an airport and tourism resort in Ras Sudr, Civil Aviation Minister Sherif Fathy tells Al Mal. The initial tender reportedly failed because the government had demanded a USD 10k fee from investors looking to purchase the booklet of conditions for the tender, sources told the newspaper. Orascom Construction, Hassan Allam, Misr Italia, and Haddad Group had all initially expressed interest in the project but did not make bids once the tender was launched. Separately, Fathy said that Egypt is set to launch three new flight routes with African countries and begin operating six new airports, including the Katameya and West Cairo airports, at the beginning of 2018.
More from Enterprise
The National Bank of Egypt and Banque Misr just hiked rates on CDs — moves that could see the EGP gain against the USD
NBE and BM both hiked rates on CDs by 125…
Miga guarantee unlocks USD 313 mn for National Bank of Egypt trade finance
Plus: Incolease taps securitization market with debut EGP 2 bn…
Here’s why “temporary listings” are all the rage right now
The government plans to list Misr Travel and Egoth in…
Kiwe gets Central Bank green light to launch nationwide
The startup is backed by our friends at EFG Hermes,…