Construction on the Russian industrial zone by the Suez Canal in Egypt may start this year. This statement was made today to RIA Novosti and the Minister of Industry and Foreign Trade of Egypt, Tarek Kabil, at the Egyptian-Russian business forum that began on February 2nd in Cairo.
According to the official, construction work on the site is to begin as soon as the parties agree on the specific projects which will be implemented there.
So far it’s assumed that they will build new facilities for the production of concrete products, trucks, agricultural tractors and petrochemicals.
To remind you, the business forum at the Egyptian capital is being carried out as part of the framework of the 10th session of the bilateral intergovernmental Committee For Trade and Economic Cooperation.
According to the president of the Russian-Egyptian Business Center, Mikhail Orlov, the Russian delegation at the event was made up of about 100 representatives from Russian companies.
In the course of the Committee’s sessions, they plan to sign a protocol on the creation of the Russian industrial zone in the Suez Canal region, as well as an agreement between the Russian Direct Investment Fund (RDIF) and a number of Egyptian banks with a view to searching for the instruments of investment project financing.