A new loan has been agreed to develop the airport at Sharm El-Sheikh, Egypt.
It is the latest part of a wider vision that will eventually see huge development country-wide, including a new governmental and business capital city.
The African Development Bank Group has approved a US $140M (£93.9M) loan for the airport, which includes construction of a new terminal, runway and control tower. The project, which costs a total of £450M, will be implemented within 44 months. It is currently Africa’s third busiest airport.
The development is aligned with the Government’s Vision 2030, which includes ambitious plans for large scale infrastructure. At last month’s Economic Development Conference, the Government unveiled the vision for a major new city outside Cairo that will become the new governmental and business capital city of the country.
Called The Capital Cairo, working with architects Skidmore, Owings & Merrill (SOM), the vision for the 700km2 environmentally sensitive city links to the old Cairo through public transport. Plans include an airport bigger than London Heathrow and the project could be completed within seven years.