Sudan, Suadi Arabia ink $ 10 billon agreement

Dec 12, 2005 (JEDDAH) — An agreement was signed in Jeddah, Saudi Arabia, Monday establishing holding company for investment between Sudanese and Saudi businessmen, which is to start with establishing a 10 billion dollar public share-holding company in the field of real estate.

A committee was formed between the two sides; for implementation of the agreement, which covers the agricultural, animal, petroleum, power and transport fields as well as banking services.

The State Minister of Investment Al-Samih Al-Sadieg lauded the agreement, saying that the establishment of the holding company is considered as a fruit of the investment forum, held in Jeddah.

The minister praised the efforts which are being exerted by President Omer Al-Bashir and the Custodian of the Two Holy Mosques, King Abdallah bin Abdelaziz for consolation and boosting the bilateral relations between the two countries.

(ST)