The IFC is out with the list of airports set for private investment: The International Finance Corporation (IFC) unveiled the list of 11 Egyptian airports slated for development through public-private partnerships (PPP) in a statement earlier this week. This comes following months of mixed reports on which airports would make the cut in the government’s plans to upgrade airport infrastructure and services with the help of private players.

Here’s the lineup:

  • Hurghada International Airport
  • Sphinx International Airport
  • Sharm El Sheikh International Airport
  • Borg El Arab International Airport
  • Luxor International Airport
  • Aswan International Airport
  • Sohag International Airport
  • Assiut Airport
  • Abu Simbel Airport
  • El Alamein International Airport
  • Marsa Matruh Airport

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ICYMI- The IFC signed an agreement with the government earlier this week to advise on PPPs for the country’s airports, helping it set a strategy “for partnership development with the private sector in 11 airports across Egypt, representing a significant portion of the country’s domestic and international air travel.”

One airport is noticeably absent: Contrary to expectations, Cairo International Airport is not among the airports selected for the first phase of the PPP program.

Hurghada International Airport will serve as a pilot project for the program. IFC will help the government launch a tender to select a strategic private partner for maintaining, operating, and upgrading the airport. The Egyptian Holding Company for Airports and Air Navigation will maintain ownership of the airport, which is the nation's second-busiest by passenger volume and air traffic.

The program holds good potential for enhancing our tourism sector: “This program will help attract world-class investors to deliver modern, efficient airports that strengthen Egypt’s position as a global travel and trade hub,” said Sérgio Pimenta, IFC’s Vice President for Africa. “Enhancing Egypt’s airport infrastructure through public-private partnership will drive economic growth and boost connectivity in the country and across the wider region,” he added.

We already know global players are interested: Civil Aviation Minister Sameh Elhefny previously said that major global companies have expressed interest in managing Egyptian airports, including the three largest operators in Europe. Prior to that, Hassan Allam Holding and France’s Groupe Aéroports de Paris had submitted a proposal to manage and operate local airports.

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