Source: EUX.TV

Madrid (dpa) - Spain's King Juan Carlos and Saudi Arabia's King Abdullah bin Abdul Aziz al-Saud on Tuesday presented a joint fund for investments in infrastructure and energy, valued at an estimated 5 billion dollars (4.2 billion euros).

The monarchs presented the fund on the second day of Abdullah's three-day visit to Spain.

The fund will consist entirely of private capital, most of which was to come from Saudi Arabia.

It will finance joint development projects in infrastructure, energy, new technologies, the defence industry and tourism mainly in Saudi Arabia, the Middle East and North Africa, media reported.

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Posted by pichu at June 19, 2007 10:14 AM