Saudi company to invest in $250 million construction project in W. Bank

The organizer of a Palestinian investment conference says a Saudi company will invest in a $250 million construction project in the West Bank. Conference organizer Hassan Abu Libdeh says the project would formally be announced Thursday. He identified the Saudi company as Al Ard Al Qabeda. Company official Fawaz Abdel Hadi says the construction will include office and apartment towers, malls and a hotel in the West Bank town of El Bireh, adjacent to Ramallah. Abu Libdeh and Abdel Hadi say the Palestinian Investment Fund will be a partner in the project. The three-day conference begins Wednesday with a speech by Palestinian President Mahmoud Abbas. More than 1,200 business people and government officials are to attend.