Japan Bank for International Cooperation will fund the $150m project near Alexandria – report
The Egyptian Holding Company for Airports and Air Navigation (EHCAAN) has confirmed plans to establish a new terminal for the Borg El-Arab Airport with a capacity of up to four million passengers a year.
The state-run company will fund the project through an agreement with the Japan Bank for International Cooperation (JBIC), the chairman of EHCAAN said during an interview with the Amwal Al Ghad news portal.
Ismail Aboulezz added that the company would start building the new terminal by July 2017, with the total cost expected to be $150 million.
Once the new terminal is complete, the total capacity of Borg El-Arab airport will reach 5.6 million passengers per year, the chairman said.
Situated in Alexandria, the second-largest city in Egypt, the Borg El-Arab airport is the gateway to the Nile Delta for tourists and business travellers. It has been the principal airport for Alexandria since December 2011, following the closure of El Nouzha Airport (also known as Alexandria International Airport) for a major renovation programme. This work was halted following the economic woes that plagued Egypt’s economy after the 2011 revolution, and to date there is no confirmation when the airport will reopen.