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TASS: Russia, Egypt to sign agreement on industrial zone formation in autumn

Russian carmakers, petrochemical enterprises, energy and medical companies are expected to locate their production facilities within the zone.
12.07.17 | Interesting article at TASS

Russia and Egypt will sign an intergovernmental agreement on setting up an industrial zone, which may become a platform for Russian companies to tap fast-growing African markets, Russia’s Deputy Industry and Trade Minister Georgy Kalamanov said on the sidelines of INNOPROM-2017 on Tuesday.

On February 2, 2016, Russia and Egypt signed a memorandum of understanding for the creation of a Russian industrial zone near the Suez Canal. Under the memorandum, the industrial zone, which will offer favorable treatment and preferences for Russian resident companies, will cover an area of 2 million square meters in the east of Port Said. Russian carmakers, petrochemical enterprises, energy and medical companies are expected to locate their production facilities within the zone. The plan is to start operations in late 2018.