Egypt's SIAC Holding Construction says it has been tasked with executing King Salman Bin Abd al-Aziz University in El-Tor city in South Sinai governorate, in cooperation with the state's Armed Forces Engineering Authority. SIAC's chief business development officer Ahmed Azmi said Sunday that King Salman University will be established over will include engineering, science, technological industries, library, sports, and administrative buildings. "The university, which is one of the most important development projects aiming to revive El-Tor city and promoting tourism in North Sinai, is with total cost of about $300 million," Azmi further referred. In March 2018, Egyptian President Abdel Fattah al-Sisi received Saudi Crown Prince Mohammad Bin Salman during his three-day visit to Egypt. The visit suggested Saudi Arabia's strong support for the Egyptian leadership. Bin Salman toured a number of national flagships, including the first phase of King Salman University and various health initiatives. He has encouraged strong economic cooperation with Egypt and Sisi's ambitious projects. In August 2017, Egyptian Investment Minister Sahar Nasr said that Saudi Arabia will grant Egypt's government $250 million to build the state's anticipated major university building within May. "The construction is set to end within one year and a half, instead of the original estimate of three years, on the orders of President Sisi," Nasr stated, adding that the university's first fall semester is to commence within 2019.
