VOL. XLI

No. 04

26-January-1998

EGYPT

Egyptian Cabinet Approves First BOT Scheme

Almost one year after the Egyptian Parliament approved a lawallowing private investors, both local and foreign, to buildairports on a build-operate-transfer (BOT) basis (MEES, 31March 1997), the Egyptian cabinet announced on 21 January that ithas approved the country's first BOT contract, awarding $35mn toEMAK, a special-purpose unit of Kuwait's al-Kharafy Group, withwhich it was negotiating, to build and operate a...