A $5 billion joint investment fund will reportedly be established by Saudi and Spanish companies in the Kingdom following the recent signing of a bilateral agreement between the two countries to encourage investments.
The decision to do so was decided upon during the visit of King Juan Carlos to Saudi Arabia this week, where he held talks with King Abdullah, according to <i>Arab News</i>.
King Carlos also visited the Shoura Council yesterday and held talks with Shoura Chairman Saleh Bin-Humaid to discuss enhancing Saudi-Spanish relations.
© 2006 Mena Report (www.menareport.com)
