In a statement, King Salman of Saudi Arabia says the bridge would boost commerce between the two allies.
The royal made the announcement on April 8 during the second day of his visit to Cairo.
Saudi Arabia and other Gulf countries have supported Egypt with billions of dollars since President Abdul Fattah al-Sisi took power in 2013 following mass street protests.
Saudi Arabia regards Egypt as a crucial partner in efforts to build a bloc of friendly Sunni Muslim states as a bulwark against growing regional influence of Shia-led Iran.
King Salman’s visit comes amid recent strains in the relationship, with Abdul Fattah al-Sisi taking a less hard-line stance against Syrian President Bashar al-Assad and Riyadh seeking more support from Cairo for its war against rebels in Yemen.
Egyptian President Abdul Fattah al-Sisi said the bridge would be named after the Saudi king.
“I agreed with my brother his Excellency President Abdul Fattah al-Sisi to build a bridge connecting the two countries” King Salman said.
“This historic step to connect the two continents, Africa and Asia, is a qualitative transformation that will increase trade between the two continents to unprecedented levels” he added.
President Abdul Fattah al-Sisi said it marked “a new chapter on the road of Arab joint action”.
A Red Sea bridge linking Saudi Arabia and Egypt has been proposed several times before but has failed to become a reality.
Previous estimates for the bridge project suggested a cost of around $3-4 billion, but no further information has yet been released for the latest plan.
King Salman is currently on a five-day visit to Egypt, where he is expected to announce more trade and co-operation agreements.
Image source: Wikimedia Commons President-elect Donald Trump celebrated his election victory at the Ultimate Fighting…
Millions of voters across the US chose to return Donald Trump to the White House…
Donald Trump declares victory in the US election as he addresses jubilant supporters in Florida.…
Stocks around the world are rising as Donald Trump appears to be on the cusp…
Donald Trump has won Pennsylvania, North Carolina and Georgia and taken a lead over Kamala…
Quincy Jones, the celebrated musician and producer who worked with Michael Jackson, Frank Sinatra, Ray…