Saudi Arabia's Crown Prince signs $10bn mega-city deal during Cairo visit

Faith Castro
March 5, 2018

Cairo supports Riyadh in its fight against Iran-backed Houthi fighters in Yemen, and a year ago joined a Saudi-led boycott of Gulf state Qatar and agreed to hand over two Red Sea islands to Saudi despite widespread criticism at home.

"The Egyptian president reaffirmed that the security of the Gulf is an integral part of Egyptian national security", the spokesman added.

Aide to the former FM, Sayyed al-Masry told Asharq Al-Awsat that Prince Mohammed's visit is significant because it precedes the Arab summit that is hosted by Saudi Arabia and which is scheduled for late March. Qatar denies the accusations.

HRH Crown Prince Mohammed bin Salman conveyed the greetings of The Custodian of the Two Holy Mosques King Salman bin Abdulaziz to President El Sisi.

Saudi Arabia agreed in April 2016 to supply Egypt with 700,000 tonnes of refined petroleum products per month for a period of five years.

A dramatic shake-up announced on Monday saw military top brass, including the chief of staff and heads of the ground forces and air defence, replaced.

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In addition to serving as the crown prince, minister of defence and deputy prime minister, Bin Salman is also the president of the Council for Economic and Development Affairs in his country.

Prince Mohammed and Sisi emphasized coordinating efforts to bolster joint Arab cooperation.

Hariri met Saudi King Salman on Wednesday in his first visit to Saudi Arabia since his freakish resignation announcement in the kingdom sparked a crisis between Beirut and Riyadh.

The Kingdom's largest petrol company, Saudi Aramco, is to supply the fuel to Egyptian refineries.

Combating terrorism and extremist organizations will also figure in the talks between Egyptian officials and the Crown Prince.

Cairo and Riyadh have maintained close ties, although Egypt has signalled a lack of enthusiasm for Saudi regional policy, both on the Yemen war and a potential escalation with Iran.

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