Egypt's Morsi discusses $8.5bn in Saudi investments
Egypt President Mohamed Morsi met with Saudi Arabia's Minister of Trade and Industry on Tuesday to discuss $8.5 billion in potential investments in Egypt by the oil-rich kingdom Al Ahram online reported
Trade minister Tafwik Bin Fawzan arrived in Cairo on Tuesday along with 36 Saudi businessmen and investors.
Egyptian finance minister Momtaz El-Said told press that the mooted Saudi investments in Egypt could include new river ports, enlarging the Safaga industrial port, refurbishing the Suez Canal hospital and waste recycling projects.
Also present at the meeting were Saudi's ambassador to Cairo, Ahmed El-Qattan, and Egypt's trade and planning ministers.