Egypt approved establishing a special free zone and international touristic port in the Ras al-Hikma peninsula, west of Alexandria, a cabinet statement said on Wednesday.

Egypt in February signed a $35 billion investment partnership agreement with the United Arab Emirates to develop the peninsula, in one of the biggest deals of its kind.

(Reporting by Momen Saeed Atallah; Writing by Ahmed Elimam; Editing by Alison Williams)