Custodian of the Two Holy Mosques King Salman and Egyptian President Abdel Fattah El-Sisi witnessed the signing of 21 agreements and memorandums of understanding (MoUs) in Cairo on Sunday.
The agreements and MoUs are as follows:
An agreement to establish a Saudi-Egyptian Fund for investment with a capital of SR60 billion. It was signed by Deputy Crown Prince Mohammed bin Salman and Egyptian Minister of Investment Dalia Khurshid.
An MoU between the Saudi Public Investment Fund and the Egyptian Ministry of International Cooperation for the establishment of a free economic zone in Sinai Peninsula. It was signed the deputy crown prince and Egypt’s International Cooperation Minister Sahar Nasr.
A number of agreements between the Egyptian Ministry of International Cooperation and the Saudi Fund for Development (SFD), within King Salman bin Abdulaziz Program for the development of Sinai Peninsula. They were signed by Finance Minister Ibrahim Al-Assaf and Egyptian Minister Sahar Nasr.
Triple wastewater treatment plant
Residential communities in Sinai (phase II)
Construction of development axis road (90 km)
Construction of four links (61 km) connecting development axis to the coastal road
Construction of Tunnel-Taba road
Construction of King Salman bin Abdulaziz University — Al-Tur City (Phase II)
Construction of Al-Jeddi Road
Development of Cross Road No. 1 (Phase I)
Establishment of a number of (13) agricultural communities
Construction of channel for water transfer
MEMORANDUMS OF UNDERSTANDING
Export Development Company with a capital of 1 billion Egyptian pounds by Saudi-Egyptian investors.
Training, qualification and recruitment company for Egyptian workers in Saudi Arabia, especially in the field of medical support services.
A company on search, study, participation and promotion for investment opportunities in Egypt and the establishment of its branches with a capital of 1 billion Egyptian pounds.
MINUTES OF EGYPTIAN-SAUDI JOINT COMMITTEE
Announcement of the establishment of Saudi-Egyptian Josour Al-Mahbah Company for the development of Suez Canal Zone by Saudi and Egyptian investors, with a capital of 3 billion Egyptian pounds.
Announcement of the development of 6 km of the economic zone to establish a commercial-industrial city with a capital of $3.3 billion.
Source: Arab News