Egypt, Saudi Arabia Sign 14 Agreements Totaling $7.7Bln

© AFP 2022 / -A handout picture released by the Egyptian Presidency late on June 20, 2022 shows Egyptian President Abdel Fattah al-Sisi (R) receiving Saudi Arabia's Crown Prince Mohammed bin Salman bin Abdulaziz al-Saud in Cairo.
A handout picture released by the Egyptian Presidency late on June 20, 2022 shows Egyptian President Abdel Fattah al-Sisi (R) receiving Saudi Arabia's Crown Prince Mohammed bin Salman bin Abdulaziz al-Saud in Cairo. - Sputnik International, 1920, 21.06.2022
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CAIRO (Sputnik) - Egyptian and Saudi authorities and private sector companies on Tuesday signed cooperation agreements worth $7.7 billion, according to the Egyptian cabinet of ministers.
The agreements were concluded in the fields of infrastructure, logistics, port management, food and pharmaceutical industry, energy and renewable energy sources, digital payment systems, and others, according to a press statement obtained by Sputnik.
In particular, the Saudi companies are investing in wind power, green hydrogen production, the development of the Damietta Port in northern Egypt, and the development of an electronic payment system.
The signing of the agreements took place as part of Saudi Crown Prince Mohammed bin Salman's visit to Egypt. The prince also plans to visit Jordan and Turkey as part of the tour.
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