Egypt, Saudi Arabia to construct bridge over Red Sea
Egypt and Saudi Arabia are set to construct a bridge over the Red Sea in the next few months.
The agreement was finalised by Saudi Arabia’s King Salman after a meeting with Egyptian president, Abdel Fattah al-Sisi.
Saudi Arabia’s King Salman said: “This will be one of the historic bridges of our time between the African and the Asian contents as we look into building a concrete relationships between the two countries.”
He added that the bridge “will also support international exports of both countries and will be a main passageway to those traveling to Saudi Arabia for Hajj and pilgrimage and other tourists”.
Egyptian government sources say Saudi Arabia is expected to sign a $20 billion deal to finance Egypt’s oil needs for the next five years and a further $1.5 billion deal to develop its Sinai region. The Saudi government is also planning to invest $4 billion in the Suez Canal and in Egypt’s energy and agriculture sectors.
Presidents Sisi said they will soon announce companies participating in the project and the time frame for construction.