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Russian delegation to visit Cairo Wednesday to discuss new industrial area

The two countries are expected to sign the Memorandum of Understanding over a new industrial zone this year

Ahram Online , Tuesday 28 Feb 2017
Views: 1942
Views: 1942

A Russian delegation headed by deputy Minister of Industry Gleb Nikitin and 35 company representatives are set to arrive to Cairo on Wednesday to discuss the details of a Russian industrial zone in Egypt, state news agency MENA reported.

The industrial zone, which is currently under discussion between Egypt and Russia, would be built over two square kilometres near the coastal city of Port Said, Egyptian officials announced last year.

The two-day visit will include several meetings with Egyptian ministers.

According to MENA, the two countries are expected to sign the Memorandum of Understanding this year. 

The zone would be part of the special economic area covering close to 500 square kilometres around the Suez Canal international waterway that links the Mediterranean and Red Sea.

The Suez Canal Economic Zone aims to become a global logistics and industrial hub and is one of President Abdel-Fattah El-Sisi's flagship mega projects. 

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