The Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud and His Excellency Mr. Abdel Fattah Al Sisi, President of the Arab Republic of Egypt, witnessed the signing of 21 investment agreements and memorandums of understanding between the two countries in a number of fields and two announcements for two established projects, as follows:
1- An agreement to establish a Saudi-Egyptian investment fund with a capital of 60 billion riyals between the Investment Fund and its affiliated and approved entities and the Egyptian government and its affiliated and approved entities signed on the Saudi side by His Royal Highness Prince Mohammed bin Salman bin Abdulaziz, Deputy Crown Prince, Second Deputy Prime Minister and Minister of Defense, and on the Egyptian side by Ms. Dalia Khorshid, Minister of Investment.
1- An agreement to establish a Saudi-Egyptian investment fund with a capital of 60 billion riyals. 2- A memorandum of understanding between the Public Investment Fund in the Kingdom of Saudi Arabia and the Ministry of International Cooperation in the Arab Republic of Egypt for the establishment of a free economic zone in the Sinai Peninsula signed on the Saudi side by HRH Prince Mohammed bin Salman bin Abdulaziz, Deputy Crown Prince and Second Deputy Prime Minister and Minister of Defense, and on the Egyptian side by Dr. Sahar Nasr, Minister of International Cooperation.
3. <3- Signing a number of agreements between the Ministry of International Cooperation in the Arab Republic of Egypt and the Saudi Fund for Development, as part of the King Salman bin Abdulaziz Program for the development of the Sinai Peninsula, signed on the Egyptian side by Dr. Sahar Nasr, Minister of International Cooperation, and on the Saudi side by Dr. Ibrahim Al-Assaf, Minister of Finance and Chairman of the Board of Directors of the Saudi Fund for Development. They are:
<1- The agreement for the wastewater tertiary treatment plant project. 2 - The agreement for the Sinai residential communities project (Phase II). 3 - Development axis road project agreement with a length of (90 kilometers). 4 - Project agreement for four links with a total length of (61 km) linking the development axis to the coastal road. 5 - Tunnel-Taba Road Project Agreement. 6 - Agreement for the King Salman bin Abdulaziz University project in Al-Tur city (second phase). 7 - Al-Jadi Road Project Agreement. 8 - Project agreement for the development of Transverse Road No. (1) Phase I. 9 - Project agreement for the establishment of (13) agricultural communities. 10 - Project agreement for the construction of a water transportation canal. 4- An agreement regarding the construction of the Dairut power plant with a combined cycle system 2250 MW with a project value of $2.2 billion, signed from the Saudi side by Mr. Yasser Al-Rumayyan (Public Investment Fund), Mr. Mohammed Abu Nayyan Amoa Power Company and from the Egyptian side by Engineer Gaber Desouki, Chairman of the Holding Company for Electricity.
4- A framework agreement for the construction of the Dairut power plant with a combined cycle system. 5- A framework agreement for cooperation in the field of housing with Talaat Moustafa Group signed by Dr. Bandar Al-Abdulkarim from the Saudi side of the Ministry of Housing and Engineer Tarek Talaat Moustafa from the Egyptian side.
5- Framework agreement for cooperation in the field of housing.
6- A framework agreement for cooperation in the field of housing with Sabbour Real Estate Group signed on the Saudi side by Dr. Bandar Al-Abdulkarim from the Ministry of Housing and on the Egyptian side by Engineer Hussein Ahmed Sabbour.
6- A framework agreement for cooperation in the field of housing with Sabbour Real Estate Group. 7- Framework agreement for cooperation in the field of housing with Misr Italia Investment Holding Group signed on the Saudi side by Dr. Bandar Al-Abdulkarim from the Ministry of Housing and on the Egyptian side by Mr. Hani Al-Assal.
8- Framework agreement for cooperation in the field of housing with Misr Italia Investment Holding Group. 8- A framework agreement for cooperation in the field of housing with Orbit Alliance Real Estate Investment and Marketing Company signed by Dr. Bandar Al-Abdulkareem from the Saudi side and Mr. Ahmed Shawky Mohamed from the Egyptian side.
8- A framework agreement for cooperation in the field of housing. 9- Memorandum of Understanding between Saudi Aramco and the Arab Petroleum Lanabit Company (SUMED) signed by Mr. Amin Hassan Al-Nasser from the Saudi side and Engineer Khaled Saleh, Chairman and Managing Director of SUMED from the Egyptian side.
10- Memorandum of Understanding to establish a framework agreement for cooperation in the field of housing with Orbit Alliance for Real Estate Investment and Marketing.
10- Memorandum of Understanding for the establishment of a poultry village in the Sinai Peninsula signed by Mr. Saleh Kamel on the Saudi side and signed for him by Mr. Abdulaziz Mohammed Abdo Yamani and on the Egyptian side by Major General Mustafa Amin, head of the National Service Agency of the Armed Forces.
11- Memorandum of Understanding regarding the following: 1 - Export Development Company (capital of one billion Egyptian pounds) Saudi and Egyptian investors. 2 - Training, qualification and employment of Egyptian labor in the Kingdom of Saudi Arabia, especially in the field of medical support services. 3- A company to search for investment opportunities in Egypt, study them, participate in them, promote them and establish companies with a capital (one billion Egyptian pounds) signed by Mr. Saleh Kamel from the Saudi side and Mr. Abdul Hamid Abu Mousa from the Saudi-Egyptian Business Council and from the Egyptian side Mr. Nasr Abu Abbas Professional Company for Financial Studies.
12- The signing of the minutes of the Saudi-Egyptian Business Council and the Egyptian side.
12- Signing the minutes of the Saudi-Egyptian Joint Committee signed by Dr. Tawfiq bin Fawzan Al-Rabiah, Minister of Commerce and Industry on the Saudi side and Engineer Tarek Kabil, Egyptian Minister of Commerce and Industry on the Egyptian side.
1- Announcing the establishment of the Egyptian-Saudi Love Bridges Company for the development of the Suez Canal area by Saudi and Egyptian investors for the rest (3) billion Egyptian pounds and it was established in one day signed on the Saudi side by Mr. Saleh Kamel and Mr. Abdul Hamid Abu Moussa and on the Egyptian side by Dr. Ahmed Darwish, Chairman of the Suez Canal Economic Authority.
2. 2- Announcing the development of 6 km of economic zone lands to establish a commercial industrial city with an amount of three billion and three hundred million dollars (established in one day) signed from the Saudi side by Mr. Ahmed Al-Kridis of ASEC and from the Egyptian side by Ahmed Darwish, Chairman of the Suez Canal Economic Authority.
The signing and announcement of the agreements were attended by Mr. Saleh Kamel and Mr. Abdelhamid Abu Moussa.
The signing and announcement of investment agreements and memorandums of understanding were attended by Their Highnesses princes and ministers, members of the official delegation accompanying the Custodian of the Two Holy Mosques during his current visit to the Arab Republic of Egypt, while on the Egyptian side it was attended by members of the Egyptian government.
<HE President of the Arab Republic of Egypt Abdel Fattah Al-Sisi held a dinner ceremony at Abdeen Palace in Cairo yesterday evening to celebrate the visit of the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud and his accompanying delegation to the Arab Republic of Egypt. The dinner was attended by Their Highnesses the Princes and Ministers, members of the official delegation accompanying the Custodian of the Two Holy Mosques during his current visit to the Arab Republic of Egypt. On the Egyptian side, it was attended by members of the Egyptian government.
