The feasability study for the project would require no less than three years. According to Egyptian president Abdel Fattah el-Sisi, the bridge would be named “King Salman bin Abdel Aziz Bridge,” after the king.

“The King Salman Bridge should be based on multiple studies, because it is the largest bridge project on Earth. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply. The company was established to invest in Suez Canal services, ship maintenance, and the exploitation of shipping lines, transporting goods between the Suez Canal and Arab and African countries, and providing various logistical services.
Bin Mahfouz revealed the decision of Saudi businessperson Sheikh Saleh Kamel and 32 other investors in the kingdom to liquidate Gosoor El Mahaba company, whose establishment began in 2014 and was completed at the end of last year with a capital of EGP 6bn. He remarked that Egypt is producing high quality medicines but its exports are still very low, and that there are discussions underway to register Egyptian medicines in Saudi Arabia and the UAE at different prices. “We showed interest in investing in the region, which has tourism and mining opportunities,” he added. “We need to coordinate with those countries before proceeding with implementation. We have been very late in expanding in Africa, allowing other countries to reap most of the benefit and replace us.”. “We are now using Egypt to enter the European and African markets. READ: Saudi, Bahrain plan new road and railway causeway The road will reportedly measure between 7-9km, and is planned to achieve $200bn of trade revenues per year. According to the agreement, the bridge extends from the north of the Egyptian city of Ras Nasrani, near Sharm El-Sheikh, to the eastern shore of Ras al-Sheikh Humaid, north of the port of Daba, passing through Tiran Island in the Red Sea.

“Countries do not benefit from foreign currency remittances abroad as much as they have benefited from the experience they have gained in development,” he added. If Aramco and SABIC succeeded in taking an important and strong position in Egypt, the Saudi private sector can invest in medium-sized projects with $50-100m.”. Due to be completed at the end of year, the structure is part of the “Canal of Zomor axis” project, or “King Salman axis”, as it is called, according to Egyptian media.
The project, however, will require geological, environmental and seismic studies. He added that investment in the health sector requires a clear investment map for the sector that guarantees investors that laws and regulations will not change, such as the new Investment Law, which is valid for 50 years. We want to review the achievements of the kingdom’s investors in tourism, real estate, and industrial projects that were implemented after these visits, as well as discuss opportunities in other sectors, particularly agriculture, mining, health, and education.”. He added that in order to implement the bridge, some design and construction procedures still have to be completed, noting that all this requires an international resolution and coordination with several countries such as Russia, America, China, and India because it is an international corridor. Speaking to MBC Egypt yesterday General Mahmoud Nassar, the head of the Central Agency for Reconstruction, said buildings which conflict with the project will be removed and the residents will be compensated if their buildings were licensed, adding that there are no obstacles to complete the project.

Pictures of the bizarre construction, which encroaches on residents’ privacy, surfaced yesterday. It has an attractive environment for investment from God, fertile soil for all countries, attracting Saudi and foreign investments and enjoying great growth,” said Bin Mahfouz. He said that about $1.5bn out of $2.5bn have been allocated for Sinai development projects, while the remaining funds will be disbursed in 2019 and 2020. But the business process showed bad economic viability, so we decided to liquidate, and leave Saudi investors to make individual investment decisions alone with foreign partners to implement projects in the Suez Canal.”. He explained that the Saudi and Egyptian companies, if agreed, will implement large projects in the pharmaceutical sector aimed for exporting to Europe and Africa. There is no distance between the balcony and the bridge, we are completely stuck. He pointed out that the kingdom of Saudi Arabia continues to increase its investments in the Egyptian market, and when it announced in 2017 that there was an increase in investments, it was marketed as a “media talk.” But the fact is that these visits resulted in the establishment of 229 new companies in the period from March and November with capital of $8bn. According to Arafat, the ministry has mandated Cairo University to perform the studies and some papers have already been submitted. Saudi Arabia’s King Salman announced on Friday that a bridge will be built over the Red Sea to link Egypt and Saudi Arabia. The King Fahd Causeway (Arabic: جسر الملك فهد ‎ Jisr al-Malik Fahd) is a series of bridges and causeways connecting Saudi Arabia and Bahrain.At 25 km. The Sinai development project agreement includes the construction of a three-phase wastewater treatment plant, the implementation of residential communities in Phase II, and the construction of the 90 km-long development axis, as well as four road links with a total length of 61 km, linking the development axis to the coastal road. “Citizens may not feel the impact of these long-term economic reforms, but we as Gulfis look at them and see that they are on the right track, even with the problems of rising prices and foreign currency shortage, but the situation is being properly addressed,” he said.


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