The cost of the King Salman Bridge, to be built over the Red Sea connecting Saudi Arabia and Egypt at an investment of $3 to $4 billion, can be recovered in 10 years, said a report, citing a former Egyptian minister.

The project is likely to be completed in about three years. Once ready, the bridge will cut travel time between the kingdom and Egypt to 30 minutes and is considered as the first link between Africa and Asia, reported Arab News.

It will play a very important role in boosting trade in the region, and it won't take more than 10 years to recover the cost," Ibrahim Al Dimitri, the former deputy transport minister, was quoted as saying in the report.

The bridge will increase Gulf investment opportunities in Egypt and also bolster commercial exchange between Arab countries."

According to him, the best way to implement the project is by forming a mutual alliance between the kingdom and Egypt.

The technical committee will start preparing for the project and supervise its future operations, said the report. It will also define whether the project will be financed by the two countries or through the build-operate-transfer (BoT) system, it added.