Investments in Russian industrial zone in Egypt to record $4.6bn by 2035

The total volume of invested capitals in Russia’s set-to-be established industrial zone in Egypt will record around US$ 4.6 billion by 2035, Russian Trade and Industry Ministry announced Tuesday.

According to ministry’s latest report, the zone is set to be built in East Port Said on the space of two million square meters including 77,500 work places.

In February, Egyptian Trade Minister Tarek Qabil and Manturov signed the MoU of establishing Russian industrial zone in Egypt.

The report stated that construction works at the industrial zone are set to be started in fiscal year 2016-17 after agreeing on the projects which the zone would include.