Egypt has taken a significant step to increase foreign currency reserves and enhance operational efficiency. The government announced that 11 airports will be opened to investment in the first phase of the initiative.
Consultancy Agreement Set to Begin
The Minister of Transport stated that the government will sign an agreement with expert consultants in the coming weeks, with the bidding process set to move forward swiftly. The minister also revealed that three international companies from Latin America, Europe, and Asia have expressed interest in partnering to manage Egyptian airports.
Hurghada International Airport to Serve as the Pilot Project
The minister explained that the timeline for airport operations under the new investments would take approximately 14 months, with Hurghada International Airport serving as the initial trial site. Following the Hurghada trial, preparations will begin to extend similar investments to other airports.
Attracting Investment While Strengthening the Economy
This large-scale investment project aims to attract foreign capital to Egypt’s aviation sector while improving operational efficiency. The plan also focuses on enhancing passenger services and maximising economic returns.
Further Announcements Expected from the Ministry of Investment
The Ministry of Investment continues to conduct extensive studies on the proposal’s implementation phases and its potential economic impact. More detailed announcements are expected in the near future.
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