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Turkey’s Limak Holding, a firm involved in construction, tourism and technology sectors, has won the tender for modernizing the Cairo Airport with a $387 million bid for the biggest contract offered by the Egyptian government since the popular uprising started Jan. 25.
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The winning bid means the company has acquired the rights to renovate the third terminal of the Cairo International Airport in Egypt. The World Bank provided funding for the renovation project, which includes doubling the passenger capacity, constructing additional facilities and enlarging the runways so they can accommodate Airbus 380 airplanes. The construction is expected to start by the end of 2012 and last approximately three years.
As Turkish investment heads back to Egypt, meanwhile foreign companies continue to eye opportunities in the Turkish market for global competitiveness. South Korean automotive giant Hyundai decided to invest 400 million euros in the northwestern province of İzmit for manufacturing i10 automobiles, according to general manager Ümit Karaarslan, speaking to Hürriyet in a recent interview.
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Source : hurriyetdailynews.com
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