Golden Coast plans $6.2mn expansion in Ain Sokhna Hotel

Egypt-based Golden Coast El Sokhna for Touristic Investment (GOCO) announced the investment cost to establish 80 guest rooms in Golden Coast Hotel project in Ain Sokhna is amounting to 55.7 million pounds ($6.2mn).

Moreover; the company revealed in a statement sent to EGX this cost will be funded from capital hike by 20 million pounds (through free stocks) in addition to LE8.7 million as in internal fund from the company as well as bank’s loan worth LE20 million and dues suppliers of  7 million pounds.