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Wednesday, 7 March 2018

Gov’t re-issues tender for Ras Sudr airport, resort after amending stipulations

The government has re-issued its tender to develop an airport and adjacent tourism resort in Ras Sudr with amended stipulations after failing to drum up investor interest in the project last year, Al Mal reports. The new tender will allow companies to own the land on which the resort will be built, rather than have the land allocated under a usufruct license, and extends the coastline for the resort to 1.6 km. Meanwhile, the airport will be developed under a build-operate-transfer framework. The government also agreed to allow investors to purchase the tender’s booklet of conditions for EGP 10k, after having demanded a USD 10k fee in the initial tender. Four unnamed companies have already purchased the booklet, and the government expects to announce the qualifying companies by 16 July at the latest. Orascom Construction, Hassan Allam, Misr Italia, and Haddad Group had all initially expressed interest in the project but did not make bids once last year’s tender was launched.

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