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Investment agreements signed between Egypt and KSA for Suez Canal region development.

An announcement has been made for the foundation of an Egyptian Saudi company “Gosoor ElMahabba” for the development of Suez Canal region by Egyptian Saudi investors of 3 milliard Egyptian pounds. The company has been founded in one day between: from the Saudi side Saleh Kamel and Abd ElHamid Abu Moussa and from the Egyptian side Dr. Ahmed Darwish, head of Suez Canal Economic authority.   

 Moreover, an announcement for the development of 6km of the Economic region land for the establishment of a commercial industrial city with a cost of 2-3milliards,300million dollars and it has also been established in one day. It agreement was signed by Ahmed ElKareedes” Acid league”   from the Saudi side and Ahmed Darwish, head of Suez Canal Economic authority from the Egyptian side.

 Worth noting that the total value of agreements signed during Saudi king Salman visit to Egypt has reached 25 milliard dollars.