Egyptian Airports Company (EAC) is preparing a tender for the expansion of Sharm El Sheikh International airport, said a report.

EAC plans to expand terminal 2 and increase its capacity by two million passengers per year, thus taking the total capacity of the airport to 9.5 million, reported Daily News Egypt, citing a source.

The Ministry of International Cooperation has signed a loan agreement worth $457 million with the Islamic Development Bank (EDB) for funding the development of the airport by adding a new passenger terminal, it stated.

This also includes the construction of a new runway with a width of 60 meters for large aircraft and 40 new airsides.

The planned expansions would increase the airport’s capacity to 18 million passengers annually, the report added.

The Egyptian government has agreed with the Islamic Development Bank (IDB) and the African Development Bank (AFDB) to finance the construction of a new terminal at Sharm El Sheikh International airport.