State-run Egyptian Holding Company for Airports and Air Navigation (EHCAAN) plans on developing a new terminal for Borg El-Arab Airport, accommodating 4 million passengers a year.
EHCAAN chairman Ismail Aboulezz said the company would start building the new terminal within next July, with total cost of $150 million, according to Egyptian newspaper Amwal Al Ghad.
He also said that Japan Bank for International Cooperation (JBIC) will fund the establishment of Borg El-Arab Airport's planned terminal.
The company plans to start work on the new terminal by July next year, it added.
The airport, located in Alexandria, Egypt, has the capacity to handle 1.2 million passengers per year becoming an adequate replacement to Alexandria International Airport, which is currently under re-development.
Amwal Al Ghad