"Turkish firm signs 350-million dollar contract for Cairo airport terminal"

Saturday, December 4, 2004

Turkish firm signs 350-million dollar contract for Cairo airport terminal 
Agence France Presse


CAIRO, (AFP) - TAV, a unit of Turkey's Akfen Holding AS, signed a
350-million dollar contract with the Egyptian Holding Company for Airports
and Aviation Saturday to build a third terminal at the Cairo airport,
sources told AFP. 

The terminal is expected to have a capacity of 11 million passengers a year
and the ability to receive 15 flights at a time, according to EHCAA head
Ibrahim Manah. 

TAV will subcontract part of the job to its Egyptian public sector partner,
the holding Company for Roads and Bridges. 

Construction is expected to begin in December and finish in 2007. 

Officials said the government would announce a tender towards the end of
this year for bids from international companies to manage the new terminal,
with the France's Aeroport de Paris expected to bid. 

The funds will be provided by the World Bank in the form of a 17-year, 2.l5
percent loan to the Egyptian government, with a five-year grace period,
Manah said. 

Of the total loan, 26 percent will be paid in Egyptian pounds, 33 percent in
dollars and 40 percent in euros.


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