RIYADH, 2 February 2003 — Prince Alwaleed ibn Talal, chairman of the Kingdom Holding Company, held a closed-door meeting with Libyan President Muammar Qaddafi — his tenth so far.
During his visit, which took place at the invitation of the Libyan leader, Prince Alwaleed met with Dr. Khaled Zantooti, chairman of the Libyan Foreign Investment Company (LAFICO), for talks on joint ventures between the two companies.
He also explored the possibility of setting up a Movenpick Hotel and Resort in Tripoli.
Gen. Qaddafi and Prince Alwaleed discussed recent developments in the Middle East including the report of the UN weapons inspectors and a US-led war on Iraq, the devastation in the occupied Palestinian territories, and Libya’s stand toward the Arab League, according to a KHC statement released here yesterday.
Prince Alwaleed briefed the Libyan leader on his last meeting with President Hosni Mubarak of Egypt and discussed Libya’s investment in KADCO.
In another development, Prince Alwaleed donated $10 million to finance both the construction of the Humanities and Social Sciences (HUSS) building on the new campus of the American University in Cairo (AUC) and the Center for American Studies and Research (CASAR), the first in the region.
Earlier this year, the KHC chairman had met with AUC interim president Dr. Thomas Bartlett in Riyadh.
The two discussed the future needs of the university and signed an MoU for the funding of the building on the new campus which will house the CASAR program.
