Egypt Signs $1.5 bln Sinai Development Deal with Saudi ArabiaSource: www.export-egypt.com 3/21/2016, Location: Africa |
|
|
|
|
 Egypt signed a deal with the Saudi Development Fund worth $1.5 billion to finance development projects in Sinai, during the fifth meeting of the Egyptian-Saudi coordination council in Riyadh , according to an international cooperation ministry statement.
The ministry, headed by Sahar Nasr, signed the deal and headed the Egyptian delegation, which included Central Bank governor Tarek Amer in addition to the ministers of investment and oil. The deal contributes to funding Sinai's development by Egypt’s Armed Forces. Sahar Nasr highlighted the importance of sustainable development and offering work opportunities for the residents of Sinai, which is the most important way to eliminate extremism and terrorism," the statement read. The development projects in Sinai include North Sinai's development axis highway, four secondary roads, agricultural agglomerations, 26 residential projects including houses, medical units, and schools, the statement said. Nasr also signed an agreement to supply Egypt's oil derivative needs for five years, an agreement between the Saudi Development Fund, the Egyptian Public Oil Authority, and Saudi company Aramco. Egypt and Saudi Arabia signed a memorandum of understanding to encourage Saudi investments in Egypt in an agreement between the Saudi public investments fund and the Egyptian investment ministry. The signing comes ahead of an expected visit to Cairo by Saudi King Salman Ben Abdel Aziz in early April. |
|
|
Financials and Investment News in Egypt >> |
 |
|||||
|
Egypt >> 9/19/2024 - Egypt is having a special participation at the IFTM-Top Resa exhibition, which lasts until Sept.19 in Paris.
Egypt’s pavilion has more than... |
Egypt >> 9/18/2024 - On his first visit around the region since his appointment, Jalel Trabelsi, the Special Envoy of the African Development Bank (AfDB), praised Egypt's ...
|
|
Egypt >> 9/18/2024 - On his first visit around the region since his appointment, Jalel Trabelsi, the Special Envoy of the African Development Bank (AfDB), praised Egypt's ...
|
Egypt >> 9/18/2024 - Benchmark index EGX 30 was up 0.61 percent to 30,342.46 points, with the Shariah index climbing by 0.20 percent to reach 2,879.64 points.
E... |
|
Egypt >> 9/18/2024 - The British company Globeleq is set to collaborate with the Egyptian government in establishing a substantial project for green hydrogen production, a...
|
Egypt >> 9/18/2024 - Deputy Prime Minister and Minister of Health and Population Khaled Abdel Ghaffar asserted the importance of cooperating with South Africa in the field...
|
| Egypt Oil & Gas 1 >> 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 | 25 | 26 | 27 | 28 | 29 | 30 | 31 | 32 | 33 | 34 | 35 | 36 | 37 | 38 | 39 | 40 | 41 | 42 | 43 | 44 | 45 | 46 | 47 | 48 | 49 | 50 | 51 | 52 | 53 | 54 | 55 | 56 | 57 | 58 | 59 | 60 | 61 | 62 | 63 | 64 | 65 | 66 | 67 | 68 | 69 | 70 | 71 | 72 | 73 | 74 | 75 | 76 | 77 | 78 | 79 | 80 | 81 | 82 | 83 | 84 | 85 | 86 | 87 | 88 | 89 | |
