20% of Russian industrial zone in Egypt's Port Said completed, equipped

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Wed, 09 Jun 2021 - 02:26 GMT

Tractors work on Egypt's New Suez Canal project at the Suez Canal zone, Egypt, June 13, 2015 - REUTERS/Asmaa Waguih

Tractors work on Egypt's New Suez Canal project at the Suez Canal zone, Egypt, June 13, 2015 - REUTERS/Asmaa Waguih

CAIRO – 9 June 2021: The head of the Suez Canal Economic Zone, Yahya Zaki, said that one million square meters of the Russian industrial zone in Port Said Governorate had been completed and equipped, representing 20 percent of the area allocated to Russian industries.

 

Zaki added that there are some developments regarding the Russian industrial zone agreement, as there are some amendments to the agreement.

 

He indicated in a TV interview that the amendments come at the request of the Russian side, in line with global changes in trade, and the additional facilities added by Egypt as incentives in the economic zones.

 

Head of the Suez Canal Economic Zone explained that these developments have gone through many discussions during this year, and these matters have been completed and all these points will be crystallized during the meeting of the Egyptian-Russian committee scheduled to be held in Moscow in the third week of this month.

 

He pointed out that the agreement will turn into a final contract before the end of this year, and therefore work will start in the area at the beginning of the next work.

 

On June 8, Minister of Trade and Industry Nevin Gamea witnessed the signing of a framework agreement between the Suez Canal Economic Zone and its Polish counterpart in the Katowice region to establish a Polish industrial zone in Ain Sukhna, in the economic zone.

 

The signature aims to establish a Polish economic zone in Ain Sukhna, with an area of ​​400 to 1,000,000 square meters, targeting food industries, electronic industries and auto spare parts.

 

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