Cairo – Mubasher: The Egyptian government has closed an agreement with the Russian Export Centre (REC) to establish a company to manage and operate the Russian industrial zone, Suez Canal Authority (SCA) chairman Mohab Mamish said on Tuesday.

The Suez Canal Economic Zone (SCZone) has accepted all Russian requests including the preparation of lands, the top official revealed, noting that the company should be established before April

Mamish called for the formation of a bilateral committee to operate the project and oversee all updates.

Many Russian companies are interested in the establishing a presence in the Russian industrial zone, a project that is expected to create 35,000 jobs, Mamish said.