On Monday, the Suez Canal Economic Zone (SCZone) received a Russian delegation from the Russian Ministry of Industry and Trade and VEB.RF, A Russian state development corporation, at the authority’s main headquarters in Ain Sokhna.
Accompanying the officials were representatives from Russian companies wishing to invest in the Russian Industrial Zone (RIZ).
The delegation inspected the site for the upcoming RIZ and visited some existing industrial zones in the area.
Egypt and Russia agreed in July to expand RIZ to East Port Said and Ain Sokhna.
They also agreed to begin the first phase of Russian investments on an area of one million square meters in East Port Said and 500,000 square meters in Ain Sokhna, out of a total area of 5 km, provided that work begins at Sokhna’s RIZ by the end of this year.
President of SCZone Yahia Zaki gave a presentation of the general plan of the Egypt’s industrial zone in Ain Sokhna and the location of the proposed RIZ, highlighting the advantages that Ain Sokhna enjoys from the presence of its port and proximity to the port of Adabiya.
According to Zaki, Sokhna’s industrial zone is equipped with infrastructure and a utilities network. It will also be linked with the June 30 Corridor and have easy access the New Administrative Capital and Galala Road, as well as other Suez Canal cities.
Edited translation from Al-Masry Al-Youm