Egypt's civil aviation ministry targets issuing Ras Sudr Airport project for investors within the first quarter of 2016 with investments estimated at one billion Egyptian pounds (US$127.7million). Minister Hossam Kamal stated Monday that the project will be issued with the Build–operate–transfer (BOT) system. The ministry is currently making project's Terms of Reference (TOR) after the Cabinet has approved establishing the airport, Kamal added. Aviation ministry has coordinated with defence ministry, General Authority for Tourism Development (GATD), and the National Centre for Planning State Lands Usage (NCPSLU) to discuss the procedures of establishing the airport and developing Ras Sudr sector. He said that the government has provided the land plots necessary for establishing the airport. At the beginning of December 2015, the government has agreed to increase the space of the allocated land to 7,681 feddans to suit airport's actual operation and future expansions, Kamal pointed out. The BOT system is a form of project financing, wherein a private entity receives a concession from the private or public sector to finance, design, construct, and operate a facility stated in the concession contract. This enables the project proponent to recover its investment, operating and maintenance expenses in the project.
