Egypt .. Signing of the contract for the first Russian industrial zone in Suez at the end of quest’year

The head of the Suez Canal Economic Zone, engineer Yahya Zaki, confirmed that the Russian industrial zone, which is the product of an agreement signed between the Egyptian government and the Russian government, is in implementation phase to transform this agreement in operating contracts in various areas within that industrial zone.

Zaki added in an interview with “Al Arabiya” that the works will start inarea of Sokhna, on the Gulf of Suez, with the assignment of 500,000 square meters, the contract for which should be concluded, after obtaining some necessary authorizations.

It was considered that implementation is expected to start Steps to work in the Russian zone within the Suez Canal economic zone The beginning of next year, at the latest, to be the first Russian industrial zone outside the borders of Russia.

He pointed out that Russia’s presence in the Suez economy gives it a presence in aarea promising close to the most important global shipping routes and ready ports, and also allows it to communicate with African and regional markets, as well as to benefit from the economic zone from the location of industries, and from the employment of labor and ports.

He spoke about the visit of the Russian delegation, including representatives of the Russian Ministry of Industry and Trade and the National Development Corporation, as well as representatives of Russian companies wishing to invest in the region, to inspect the project site in Russia region and visit some existing industrial realities in the Sokhna industrial area.

Zaki added that the delegation inspected the industrial zone to get to know it closely and inspected the available land to determine the final location in the region, as well as review the facilities and services in the region, indicating the existence of the so-called operational contract for the Russian region, and should be signed by both parties after agreeing its terms at the end of questyear, to start the implementation of the project on the ground.

The Economic Zone of the Suez Canal had recently announced the holding of bilateral meetings between the two parties which took place in Moscow last July, with the participation of the National Development Foundation “VIP RF”, which is the investment arm of the Russian government, and the financial and executive arm of the Russian industrial zone within the Suez Canal Economic Zone.

As for the work with the Polish side, he stated that “I am in work under the Memorandum of Understanding and the Polish side presents the results of this memorandum and investment incentives to a group of Polish companies, and there may be an opportunity at the end of the quest’year, or early next year, to conduct workshops with companies to evaluate the activation of this The agreement will take place during the second quarter of next year, which is the expected signing of the land contracts and the start some work on them.

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