Russian Industrial Zone in Suez to be launched soon
The construction of the Russian Industrial Zone in the new Suez Canal Economic zone is expected to begin soon, in a project that Egypt hopes will boost its economy.
Egypt and Russia have recently made a significant step toward constructing the Russian Industrial Zone east of Port Said in the new Suez Canal Economic Zone.
The chairman of the Suez Canal Authority (SCA) and head of the Suez Canal Economic Zone, Mohab Mamish, said Feb. 21 that the construction of the Russian Industrial Zone will be launched soon. The construction will be “launched by the end of 2020 or the beginning of 2021,” he told TASS news agency.
According to TASS, so far over 50 Russian companies expressed their keenness to be part of the industrial zone.
In a Feb. 23 press statement Mamish said that an agreement between the SCA and the Russian leading company in crane building, CJSC SMM, was signed in Russia on Feb. 22 in order to set up a crane factory in the Russian Industrial Zone. A delegation from this company will visit the zone some time in March to discuss mechanisms for the establishment of this factory.
