The first session of negotiations between Egyptian Agricultural Ministry officials and Saudi Prince Al-Waleed bin Talal over his company's land in Toshka failed Wednesday.
Speaking anonymously, an official Agricultural Ministry source said the first round of negotiations failed after Egyptian officials rejected the offers presented by the Saudi prince on Wednesday.
According to the same source, bin Talal offered to reclaim 50,000 feddans over five stages, reclaiming 10,000 feddans every two years.
In the second proposal, bin Talal asked that his company be allowed to own 25,000 feddans and to manage and enjoy the benefits of another 25,000 feddans without claiming ownership.
The Egyptian delegation offered to allow Kingdom Agricultural Development Co., bin Talal’s company operating in Toshka, to own 10,000 feddans and return 90,000 to the state. The company has cultivated 1000 feddans of the 100,000 feddans earmarked for it in a 1997 with the Egyptian government.
According to the same source, Egypt believes the Saudi company has not worked seriously enough to cultivate the land allocated to it even after it was provided irrigation sources.
Participants in the negotiations said they will discuss the points of disagreement at an upcoming meeting for Agricultural Development Authority board of directors, scheduled to be held within two weeks, or submit them to the cabinet of ministers.
