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Russia To Sign Agreement For Industrial Zone Near Port Said In April

Russia to sign agreement for industrial zone near Port Said in April

Russia To Sign Agreement For Industrial Zone Near Port Said In April

Suez, Egypt (PortSEurope) March 13, 2019 – Egypt’s government expects to sign an agreement with the Russian Export Centre (REC) to start the development of the first phase of an industrial zone near Egypt’s Port Said in April, the president of the Suez Canal Authority, Mohab Mamish, said.

The Russian Industrial Zone (RIZ) is scheduled to be implemented in the Suez Canal Economic Zone in Egypt on an area of 5.25 million m² and will be built in three phases, Mamish noted. 

Under the first phase, a total of 1 million m² will be developed by a Russian company which will also work on attracting Russian investors and companies throughout 2018 and 2019. This phase will open 7,300 jobs.

Source: Amwal Al Ghad

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