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Move to speed up $3bn Saudi-Egypt causeway

A Saudi business delegation on a visit to Cairo will aim to expedite studies on the proposed $3 billion Saudi-Egypt causeway, a report said.

The 32-kilometre causeway will boost bilateral trade and ease travel of Egyptian pilgrims, Arab News quoted Al-Sharq as saying in the report.

The 50-member delegation, which will meet Egyptian President Muhammad Mursi, will also discuss the $27 billion Saudi investment in Egypt, the report said.

“Our delegation will ask for the president’s personal intervention to remove the obstacles facing Saudi investors,” Abdullah Dahlan, president of Saudi-Egyptian Business Council and a board member of the Jeddah Chamber of Commerce and Industry, was quoted as saying in the report.

The causeway will start from the Egyptian resort of Sharm El-Sheikh and pass by Tiran Strait before reaching Ras Hamid near Tabuk in northern Saudi Arabia, according to the report.

- tradearabia, September 11, 2012

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