Housing Minister Mostafa Madboulli inspected on Thursday the construction works of a new project established in Cairo by Saudi Egyptian Construction Co. (SECON) at a cost of 1.6 billion pounds.
The minister was accompanied with Saudi Ambassador Ahmed Qattan, SECON's Chairman of the Board of Directors Mohammed Bin Hamoud Al Mazid and Executive Director Darwish Hassanin.
During the inspection tour, Madboulli hailed the Egyptian-Saudi relations that are considered as an axis for the Middle East, pointing out at SECON as a model for such crucial relations, underlining that the company's investments have reached four billion pounds.
He also asserted the ministry's full support of the Egyptian-Saudi partnership that benefits both parties.
The minister also stressed that the ministry will review a number of major projects during the Egyptian economic development conference slated to be held in Sharm el Sheikh on March 13-15.
He added that a number of memorandums of understandings will be signed during the conference with a number of Egyptian and Arab investment coalitions.