Egypt and Saudi Arabia is now set to construct a bridge over the Read sea in the next few months after the two countries got into agreement.
The agreement was finalized by Saudi Arabia’s King Salman who is on a 5-day visit to Egypt broke the news about the construction of the bridge over the Red Sea on Friday after a meeting with Egyptian president, Abdel Fattah al-Sisi.
Saudi Arabia’s King Salman said that he has come into agreement with his counterpart to construct a world’s class bridge over the red seas that will connect the two countries and enhance trade between the countries.
“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
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 planning to invest $4 billion in the Suez Canal as well as Egypt’s energy and agriculture sectors.
On his side Egyptian side presidents Sisi said that they will ensure that the project ends and starts on time so that it can become effective to their vision for building it.
He said soon they will announce companies that will take over the project and the time frame that it will constructed.
Currently Egypt is on the go to ensure that it rises into an economic independent zone as it had been lagging behind in the last few years due to internal political wrangles.