Egypt, KSA to ink petroleum, investment deals

20 Mar 2016

(MENAFN) The Egyptian Minister of Intl’ Cooperation will sign an agreement with Saudi Arabian parties for the ink of petroleum to Cairo for coming five years.

Moreover, the Egyptian Minister will sign a USD 1.5bn deal with the Saudi Fund for Development (SFD) to raise “the development of the Sinai peninsula.”

Additionally, the global cooperation minister will also discuss a USD 119.83mn agreement from the SFD to fund to be implemented to the upgrading of Qasr El-Ainy hospital.

The Kingdom gave orders to increase its investments in Egypt to more than USD 8bn to secure Egypt’s petroleum demands for the following five years.

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