EHCAAN, Armed Forces in talks on utilising Cairo Airport City with $394mn-investments

Egyptian Holding Company for Airports and Air Navigation (EHCAAN) is currently in talks with the Armed Forces on utilising the infrastructure of Cairo Airport City project.

A senior source at EHCAAN told Amwal Al Ghad Wednesday that the total investments of utilisation works at the project are estimated at around 3.5 billion Egyptian pounds (US$393.9 million).

EHCAAN received offers from a number of local and foreign companies but they all were rejected as they did not follow project’s financial and technical terms, the source clarified.

The source stated that the company aims at finishing utilisation processes at the Airport City as soon as possible to issue it for investors.

The Airport City project is set to be established on total space of 10 million square meters with investments worth more than US$17 billion pounds.

It is set to include a new trade free zone, cargo village, factories belonging to the civil aviation for packaging and food terminals. In addition, it will encompass an entertainment area, administrative offices, hotels and hospital.