Eng. Hussein Masoud, minister of civil aviation, said that the African Development Bank approved lending Ministry of civil aviation $ 318 million to finance the establishment of the new passengers building no.3 in Sharm El-Sheikh airport.
During his visit to the airport, Masoud said on Thursday that the building’s total cost is EGP 3 billion (about $ 500 million), and he clarified that the rest of the cost will be covered loans from Egyptian banks.
This project will be finished in 2015 and will accommodate about 10 million passengers, meaning that the total number of accommodated passengers will reach 18 million passengers annually, Masoud added.
During his visit, the minister met the employees to know their problems they are facing.