Russian delegation visits Egypt to choose location of industrial zone

A Russian delegation from the Industry and Trade Ministry started a four-day visit of Egypt to choose the location of a Russian industrial zone, planned to be built in Egypt soon, Industry Minister Mounir Fakhri Abdel Nour said.

The delegation, led by the director of the Department of Foreign Economic Relations at the ministry, will be accompanied by over 20 large Russian companies keen to invest in the Egyptian market in the fields of transport, agricultural equipment, civil aviation, heavy industries, shipbuilding, energy and communications, Abdel Nour said.

The visit aims to put into force agreements signed with the Russian side following the talks Abdel Nour had with Russian Industry and Trade Minister Denis Manturov in Russia last month, he added.

The Russian industrial zone will include food and engineering industries, he said.

The Russian delegation visited on Sunday north of Ataqa area and Adabiya Port in Suez, a proposed site for the Russian industrial zone, to get acquainted with the logistic services provided by the port to the surrounding industrial area, Chairman of the Industrial Development Authority (IDA) Ismail Gaber said.

The delegation will also visit Kom Oshim area in north of Fayyoum with an IDA technical team as another proposed location for the industrial zone, Gaber said.