Cairo – Mubasher: An investment delegation from Russia will visit Egypt this month to discuss the establishment of the Russian industrial zone in the Suez Canal Economic Zone (SCZone), a government source told Alborsa News.
The visit is expected to lure investments worth $7 billion, the source said.
The industrial zone is set to be built over three phases in 13 years, on which the first phase’s construction will begin within 2018 over 5.25 million square metres area.
Given that Egypt's cabinet has agreed on setting up the Russian industrial zone last week.
Russia comes in the 47th spot among countries investing Egypt with total investments of $62.8 million through 417 projects in the fields of tourism, services, construction, and telecommunications.
