The Egyptian Airports Company has extended the tender deadline for contractors to submit bids for the Sharm el-Sheikh airport expansion till mid-January, according to industry sources.

It is unclear why the deadline has been extended.

It is understood that five companies have shown interest. The list of prequalified firms includes:

• Consolidated Contractors Company (CCC) (Athens-based)/ Acciona (Spain)
• Orascom Construction Industries (local)
• El-Nasr Building & Construction Company (EGYCO) (Local)
• Khalid ali al-Kharafi & Brothers (Kuwait)
• Hassan Allam Holding (Local)

Contract award: The contract was expected to be awarded in the first quarter of 2016.

Financing: The local African Development Bank group is part financing the $671m project through a $140m loan, which was approved in April this year.

Sharm el-Sheikh has been under the spotlight in recent days following the crash of a Russian plane on 31 October, which was carrying passengers from the coastal resort to the Russian city St. Petersburg.

Initial reports suggested technical faults, but UK and US experts have since suggested that the crash may have been caused by an explosion in the air.

Islamic State of Iraq and Syria (Isis) groups operating in Sinai claimed responsibility for the crash and released a video on 4 November challenging the Russian authorities to prove the attack was not carried out by the jihadist group.

Many UK and European flights to and from Sharm el-Sheikh have been halted as the investigation into the cause of the crash continues.