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Country-Plan Projects and Tenders |
| 9467 Subject |
5 فنادق كبري تاريخية وخبر عن احتمال الخصخصة إلي مؤسسات مستقلة In an attempt to enhance its privatization program particularly in the tourism sector, still deemed a black horse, Egyptian Government seems heading towards converting 5 historic hotels into independent companies. |
| Date Published | Monday, October 10, 2005 |
| Source Name | Asharq Al Awsat |
| Location Name | Country Wide |
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Description Date Format: (mm/dd/yyyy) |
Unnamed sources of the Holding Co. for Housing, Tourism & Cinema, quoted in the media, predicted the Egyptian Government is heading towards converting 5 historic hotels into independent shareholding companies in an attempt to enhance its privatization program, particularly in the tourism sector, still deemed a black horse. They are said to include Marriott Zamalek Hotel, in Cairo, Menahouse Obroy Hotel in Pyramids, Giza, Cataract Hotel in Asswan, Winter Palace Hotel in Luxor and Falastin Hotel in Alexandria. Package provides for the later offering of a minimum of 40 % of their capital shares for sale on the Stock Exchange with the remaining 60 % to be kept by EGOTH. Sources were further quoted indicating the scheme would follow investing L.E. 407 million to revamp those hotels as earlier reported. |
| Sectors Section | Beneficiary Sectors - Electromechanical Works Electromechanical Works - Construction Projects Hotels & Tourist Development - Consultancy Engineering Consultancy |
