The Saudi monarch who arrived in Cairo on Thursday made the televised announcement during the signing of several cooperation agreements.
“This historic step to connect the two continents, Africa and Asia, is a qualitative transformation that will increase trade between the two continents to unprecedented levels,” the Saudi King said.
Egypt’s president al-Sisi soon after the announcement proposed to name the bridge “King Salman bin Abdel Aziz Bridge.”
The two countries signed at least 17 agreements and memoranda of understanding, estimated at $1.7 billion.
Saudi Arabia will finance an array of projects including construction of a university, housing projects in South Sinai,and a power plant.
King Salman will also enter history as he is expected to meet the head of the Coptic Orthodox Church, Pope Tawadros II.