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Kingdom Holding eyes $350 mln Egypt investment-paper - ASHARQ AL-AWSAT English Archive
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CAIRO,(Reuters) – Saudi firm Kingdom Holding is considering investing $350 million in an agro-industrial project in Egypt, newspaper al-Mal quoted a senior company executive as saying on Sunday.

“I think we will reach the stage of negotiations and due diligence a month and a half from now,” the financial daily cited board member Ahmed Halawani as saying.

An Egyptian agriculture investment deal signed by Kingdom’s billionaire owner Prince Alwaleed bin Talal in 1998 was annulled by a court in April as prosecutors investigated the terms of several state land sales under former President Hosni Mubarak.

That dispute was settled this month when Alwaleed signed a revised deal for the farmland at Toshka in southern Egypt.

Asharq Al-Awsat

Asharq Al-Awsat

Asharq Al-Awsat is the world’s premier pan-Arab daily newspaper, printed simultaneously each day on four continents in 14 cities. Launched in London in 1978, Asharq Al-Awsat has established itself as the decisive publication on pan-Arab and international affairs, offering its readers in-depth analysis and exclusive editorials, as well as the most comprehensive coverage of the entire Arab world.

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