RIYADH: The Saudi-based Red Sea Global company held its second promotional procurement exhibition in Cairo, in cooperation with its media partner, MEED Network, and in the presence of representatives from more than 100 Egyptian companies from the private sector, the Saudi Press Agency reported on Monday. The exhibition is the second of its kind in a series of local, regional and international introductory meetings conducted by the company, which is wholly owned by the Kingdom’s Public Investment Fund. The event aims to establish more partnerships with the private sector to enable the delivery of the company’s growing portfolio of projects. Ben Edwards, group head of cost, commercial and procurement at Red Sea Global, said the opportunity to present projects and opportunities available to the Egyptian market is a major strategic step for Red Sea International this year. “To achieve the innovative approach that we seek, especially with regard to sustainability, we had to identify organizations and companies that share the same vision to establish real partnerships with them, and we met today with many future partners,” he added. Red Sea Global is one of the companies with continuous progress in implementing projects for its “Red Sea” and “Amaala” destinations, and the twelve future projects in the company’s portfolio, SPA added. In March, it held its first regional induction tour in Doha, where the company met with representatives from more than 100 Qatari companies. The company has awarded contracts worth more than SR40 billion ($10.6 billion) for its “Red Sea” and “Amaala” destinations so far and this year, contracts worth SR5 billion were awarded, with an additional SR20 billion expected to be awarded before the end of the year.