Cairo - Mubasher: Egypt has successfully concluded talks with Russia to expand the Russian industrial zone inside the Suez Canal Economic Zone (SCZone) to include East Port Said and Ain Sokhna.
The definitive agreement will be signed by the end of 2021 for the establishment of a company to manage the Russian industrial zone, the Chairman of SCZone, Yehia Zaki, said in a statement on Thursday.
The industrial zone has been expanded by 5 million square metres (sqm) divided between East Port Said and Ain Sokhna. The first phase of the project includes 1 million sqm in East Port Said and 500,000 sqm in Ain Sokhna. Work in the industrial zone is expected to begin by the end of 2021.