Egypt: Govt confirms construction of new airport
21 May 2012
Kamal al-Ganzouri, the prime minister of Egypt, has announced plans to build a new airport in Ras Sedr, with the cost of the construction work expected to reach as much as LE 600 million.
The prime minister explained that in addition to creating new job opportunities for local people, the airport should help to stimulate the tourism industry and the movement of consumer goods.
Funding for the new airport is being provided by an Egyptian joint stock company, the Egypt State Information Service reports.
The news was only confirmed, though, after the government conducted a feasibility study into the financial validity of the airport.
In addition to the employment and tourists benefits, the new airport will also provide a broader long-term economic stimulus.
Elsewhere in Africa, Princess Stella Oduah, the Nigerian minister for aviation, recently confirmed that the government is set to award a construction contract for a new airport in the capital city of Abuja.