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Custodian of the Two Holy Mosques, Egyptian President Witness Signing 21 Agreements, MoU

Custodian of the Two Holy Mosques, Egyptian President Witness Signing 21 Agreements, MoU
10 Apr

Cairo, SPA :

 The Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud and President Abdel Fattah Al-Sisi President of the Arab Republic of Egypt witnessed at Abdeen palace Abdeen here late last night the signing ceremony of 21 investment agreements and memorandums of understanding (MoU) between the two countries in a number of areas as well as two declarations for two projects established as follows:

 1 - An agreement for the establishment of a Saudi-Egyptian Fund for investment with a capital of 60 billion riyals among the investment fund and its affiliated entities and those therewith with the Egyptian government and its affiliated entities and those therewith. It was signed by the Deputy Crown Prince Mohammed bin Salman bin Abdulaziz, Second Deputy Premier and Minister of Defense from the Saudi side and by Professor Dalia Khurshid, Minister of Investment from the Egyptian side.

 2 - Memorandum of Understanding 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 Mohammed bin Salman bin Abdulaziz, Second Deputy Premier and Minister of Defense from the Saudi side, and by Dr. Sahar Nasr, Minister of International Cooperation from the Egyptian side

 3 - Singing 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 and they were signed by Dr. Sahar Nasr, Minister of International Cooperation from the Egyptian side, and by Dr. Ibrahim Al-Assaf, Finance Minister and SFD Chairman from the Saudi side.

 The signed agreements are as follows:

 1- Draft Agreement on Triple Wastewater Treatment Plant.

 2 - Draft Agreement on Residential Communities in Sinai (Phase II).

 3 - Draft Agreement on Construction of Development Axis Road (90 km).

 4 - Draft Agreement on Construction of Four Links (61 km) Connecting Development Axis to the Coastal Road.

 5 - Draft Agreement on Construction of Tunnel-Taba Road.

 6 - Draft Agreement on Construction of King Salman bin Abdulaziz University - Al-Tur City (Phase II).

 7 - Draft Agreement on Construction of Al-Jeddi Road.

 8 - Draft Agreement on Development of Cross Road No. (1) (Phase I).

 9 - Draft Agreement on Establishment of a Number of (13) Agricultural c Communities.

 10 - Draft Agreement on Construction of Channel for Water Transfer.

4. An agreement regarding the establishment of Dayrout combined-cycle system power plant generating 2250-megawatt at a cost of $ 2.2 billion.

 5. A framework agreement for cooperation in the field of housing with Talaat Moustafa Group (TMG) Holding.

 6. A framework agreement for cooperation in the field of housing with Sabbour Real Estate Group.

 7. A framework agreement for cooperation in the field of housing with Misr Italia Investment Holding Company.

 8. A framework agreement for cooperation in the field of housing with Orbit Alliance Investment and Real Estate Marketing Company.

 9. A Memorandum of Understanding between Saudi Aramco and Arab Petroleum Pipelines Co. (SUMED).

 10. A Memorandum of Understanding for the construction of poultry production village in Sinai Peninsula.

11. A Memorandum of Understanding as follows:

 1 - Export Development Company with a capital of one billion Egyptian pounds) by Saudi-Egyptian investors.

 2 - Training, qualification and recruitment company for Egyptian workers in the Kingdom of Saudi Arabia, especially in the field of medical support services.

 3 - A company on search, study, participation and promotion for investment opportunities in Egypt and the establishment of its branches with a capital of one billion Egyptian pounds.

 12. Signing minutes of the Egyptian-Saudi Joint Committee.

 1 - 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 three billion Egyptian pounds.

 2 - Announcement of the development of six km of the economic zone to establish a commercial - industrial city with a capital amounts to three billion and 300 million dollars.

 The signature and declaration of the investment agreements and memorandums of understanding were attended by Princes and Ministers, members of the official delegation accompanying the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud in his current visit to the Arab Republic of Egypt, while attended from the Egyptian side by members from the Egyptian government.

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