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Egypt pledges to Saudi Arabia a thousand square kilometers in south Sinai for the project NEOM

Egypt to pledge 1,000 square kilometers of land in southern Sinai to the industrial city of NEOM,

which Saudi Arabia announced last year at a cost of $ 500 billion,

a Saudi official said.The Saudi official said: "Saudi Arabia will cooperate with Egypt

and Jordan to attract European shipping and tourism companies to work in the Red Sea

during the winter." The Red Sea land is part of a $ 10 billion mutual fund that

the two countries set up late on Sunday during Saudi Crown Prince Mohammed bin Salman's visit

to Cairo.