Saudi Arabia, Egypt sign $7.7bn investment deals: Minister

RIYADH, 22 June 2022, (TON): the Saudi Minister of Trade, Majid Al-Qasabi announced "Saudi Arabia and Egypt have signed 14 investment deals worth $7.7 billion.”

The two countries have also agreed three Memorandums of Understanding, Al-Qasabi revealed during a meeting of the Egyptian-Saudi Business Council.

The deals include a cooperation agreement to build Egypt Center for Petroleum and Petroleum Products Storage, between the Saudi Ajlan & Bros Holding Co. and the Egyptian Arab Supply Chain Group Co., at a value of SR12.25 billion.

Ajlan & Bros Holding will sign eigh agreements with Egyptian parties with a total value of SR18.6 billion.

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