Global Courant
A project to establish a Russian industrial area in Egypt Suez Canal economic zone is currently being discussed, Russian President Vladimir Putin said during his visit to the UAE pavilion at the St. Petersburg International Economic Forum.
UAE President Sheikh Mohammed bin Zayed proposed a tripartite cooperation between Russia, Egypt and the UAE.
Egyptian-Russian negotiations on the establishment of the Russian industrial zone began after a meeting between Putin and Egyptian President Abdel Fattah al-Sisi in Sochi in 2014.
Actual negotiations on the establishment of the zone began in 2017.
The economic zone in Egypt is considered the starting point for expansion of the activities of Russian companies in Egypt, the Middle East and Africa.
Investments of the Russian industrial zone will amount to US$4.6 billion. It will be called “Sun City” and will be built on an area of 2,000 hectares.
The industrial city is located on Egypt’s Mediterranean coast, near the Suez Canal, through which 20 percent of world trade passes.
Russia will bring its own personal touch to the industrial city as it will be built in the shape of a semicircle and will consist of two parts: the eastern part which will be called “Moscow” and the western part which will be called “Moscow”. St Petersburg”.
A recreation area and a garden are planned for the residents of the city to spend their free time.
Russian industrial zone in the Suez Canal
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