Cairo, KFAED sign 2 deals worth EGP 2.28bn on sidelines of Africa 2018 Forum
Saturday، 08 December 2018 - 03:31 PM
Cairo and the Kuwait Fund for Arab Economic Development (KFAED) signed on Saturday two deals to establish a water system for Bahr el Baqar canal and to finance setting up water desalination plants in South Sinai.
The deals were signed by Minister of Investment and International Cooperation Sahar Nasr and KFAED’s director general Abdulwahab Ahmad al Bader on the sidelines of Africa 2018 Forum, which kicked off earlier in the day in Sharm el Sheikh resort city.
The first deal finances the establishment of a water system for Bahr el Baqar canal with total investments of EGP 1.4 billion.
The second one funds setting up four water desalination plants in South Sinai governorate at a total cost of EGP 880.5 million.
The inking ceremony was attended by Kuwaiti Ambassador to Egypt Mohammad Saleh al Thuwaikh and South Sinai Governor Khaled Fouda.MENA