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Saudi Arabia pumps $400m investments into Sinai development

Egypt’s investment and international cooperation minister Sahar Nasr said Sunday that Saudi Arabia has injected investments worth $400 million during the recent weeks as part of the Egyptian-Saudi agreement to develop the Sinai Peninsula.

Nasr noted that total Saudi investments in Sinai rose to $900 million.

The Sinai development programme includes about 12 financing agreements with the Saudi Fund for Development (SFD), with total investments of $1.5 billion.

The programme includes the construction of King Salman University in Al-Tor city and other projects.

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