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Saudi Wealth Fund Starts Company for Egypt Investments

A dump truck transports construction materials in the central business district of Egypt's New Administrative Capital, east of Cairo in Egypt.

A dump truck transports construction materials in the central business district of Egypt's New Administrative Capital, east of Cairo in Egypt.

Photographer: Islam Safwat/Bloomberg

Saudi Arabia’s sovereign wealth fund has started a company that will invest in swathes of Egypt’s economy from infrastructure and real estate to pharmaceuticals.

The Saudi Egyptian Investment Co., or SEIC, is interested in the country’s “promising sectors,” according to a statement on Friday by the Public Investment Fund.