Back to the complete issue
Monday, 18 May 2020

Cairo Airport seeking EGP 1.2 bn loan to refurbish Terminal 1

Cairo Airport seeking EGP 1.2 bn loan to refurbish Terminal 1: The Cairo Airport Company has approached the National Bank of Egypt and Banque Misr for a EGP 1.2 bn loan to part-finance its plan to refurbish Cairo International Airport’s Terminal 1. Sources familiar with the agreement told Al Mal that the company is waiting to receive approval from the banks, and learn which one would be interested in managing the loan, which comes with a 5-7 year repayment term.

What’s happening at the airport? The company’s former chairman, Ahmed Fawzy, said in November that refurbishing the terminal would cost in the region of USD 200 mn. The plan would see the airport’s first and second terminals merged into a single building containing separate local and international departure halls. Terminal 3 would be revamped as an arrival hall and merged with the airport’s mall. An unnamed French company has been selected by the government to develop the Terminal 1 building, while the Cairo Airport Company issued in March a EGP 1 bn tender for local companies to renovate Terminal 2.

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of HSBC Egypt (tax ID: 204-901-715), the leading corporate and retail lender in Egypt; EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Mashreq (tax ID: 204-898-862), the MENA region’s leading homegrown personal and digital bank; Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt; Hassan Allam Properties (tax ID:  553-096-567), one of Egypt’s most prominent and leading builders; and Saleh, Barsoum & Abdel Aziz (tax ID: 220-002-827), the leading audit, tax and accounting firm in Egypt.