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Thu Feb 21, 2019, 04:06 AM

Russia's Industrial Zone in Egypts Suez Canal to Be Launched by End of 2020-Early 2021

Published time: 21 Feb, 2019 07:35

The construction of Russia’s industrial zone in one of the world’s major transportation routes, the Suez Canal area in Egypt, will be finished soon.

That’s according to the head of the Suez Canal Authority, Mohab Mamish, who told TASS the zone will be “launched in late 2020 – beginning of 2021.”

He said factories manufacturing agricultural machinery that is in demand on the Egyptian market will be located in the Russian industrial zone. Such products will be in demand not only on the Egyptian market, but also in the markets of other African countries, as well as the Middle East and Europe.

According to the Russian Minister of Industry and Trade, 20 Russian companies have already confirmed their interest in locating their facilities during the project’s first phase until 2023. In general, the number of companies interested in participating in the project exceeds 50.

https://www.rt.com/news/

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