Saudi To Invest Five Billion USD In Development Projects In Bahrain: Official Statement
Date
12/9/2021 8:06:31 PM
(MENAFN- Nam News Network)
MANAMA, Dec 10 (NNN-BNA) – Bahrain and Saudi Arabia yesterday signed key agreements, involving a Saudi investment of five billion U.S. dollars in development projects across Bahrain, according to an official statement.
The agreements came, during the second meeting of the Saudi-Bahraini Coordination Council, in Bahrain's Sakhir Palace, co-chaired by Bahraini crown prince and Prime Minister, Salman bin Hamad Al Khalifa, and visiting Saudi Crown Prince, Deputy Prime Minister and Defence Minister, Mohammed bin Salman Al Saud.
A feasibility study for establishing a Bahraini-Saudi multi-industry holding company was agreed on, during the meeting.
The meeting also discussed cooperation between Bahrain's Oil and Gas Holding Company and Saudi Aramco, with a focus on the circular economy, and hydrogen production technology.
The Council urged the committee supervising the proposed King Hamad Causeway and railway network projects between the two kingdoms, to complete economic and financial feasibility studies within a month.
During a joint press conference yesterday, with his Bahraini counterpart, Abdullatif bin Rashid Al Zayani, Saudi Foreign Minister, Faisal bin Farhan Al Saud, called on Iran to“play a bigger role to return to the (2015) nuclear deal.”
Bahrain is the fourth leg of the Saudi crown prince's Gulf tour that has taken him to Qatar, the United Arab Emirates and Oman, and will end in Kuwait, all, members of the Gulf Cooperation Council.– NNN-BNA
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