Rosneft plans expansion in region of Suez Canal

Rosneft plans expansion in region of Suez Canal
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The Russian Rosneft company is paving the way for negotiations on the possible construction of a high-capacity hydrocarbon terminal in the area of the Suez Canal, Russia's trade representative in Egypt, Fyodor Lukashin, told Ria Novosti about this on Tuesday in the city of Cairo.

According to him, Russia is considering the opportunity of establishing its own industrial zone in the region of the Suez Canal at three points — near the port cities of Alexandria, Eastern Port-Said and Ain Sokhna.

The Russian and Egyptian parties are expected to sign an intergovernmental agreement on establishing the Russian industrial zone in February 2017.

In addition, a Russian special-purpose consortium will offer the authorities of Egypt the chance this summer to take part in the construction of a grain hub in the Egyptian town of Damietta.