The African Development Bank Group has approved a US$140m (£95m) loan towards the expansion of Egypt’s Sharm El-Sheikh airport.
The US$671m project is includes construction of a new terminal, runway and control tower. It is expected to provide additional capacity for 10 million passengers per year, bringing the total capacity to 18 million annually.
Sharm El-Sheikh airport has been Egypt’s fastest-growing facility and is Africa’s third-busiest airport, with an average of 10% annual growth rate in traffic over the past decade. The total number of passengers using the airport reached 8.2 million in 2010, which is above its design capacity.
The expansion project is expected to take 44 months.