EHCAAN, sovereign entity to launch Cairo Airport City $17bn-project before end-2016

Egyptian Holding Company for Airports and Air Navigation (EHCAAN) is coordinating with a sovereign authority to launch Cairo Airport City project before the end of 2016.

A source with knowledge of the matter told Amwal Al Ghad Monday that the total investment cost of the project is estimated at more than US$17 billion.

The source added that EHCAAN is currently finishing the final agreement with a number of contracting firms through the sovereign authority in order to start executing the project soon.

The Airport City project 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.