The Egyptian Airports Company (EAC) is considering the cancelation of the tender for the Sharm El-Sheikh Airport expansion, according to Adel Mahgoub, Company Head. This comes in light of the wide discrepancy between the offers received from contactors and the budgeted cost by EAC, which was the base for the company’s financing talks, according to Mahgoub. Four consortia have presented bids, including: i) Orascom Construction (local)- BESIX (Belgium); ii) Mohamed Al-Serafy (local)-TAV Construction (Turkey); and iii) a consortium led by Hassan Allam Sons. The local African Development Bank Group had agreed to partially finance the USD671 million project through a USD140 million loan, which was approved in April 2015. (Al Borsa, MEED)   Orascom Construction (DU): USD6.20 as of 09 February 2016, Rating: Buy, FV: USD9.06 per share, MCap: USD732 million, OC DU / OC.DI