Egypt, Saudi Arabia Sign 14 Agreements Totaling $7.7Bln
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.