Russia to Set Up Managing Company for Industrial Zone in Egypt Soon

The managing company that would coordinate establishment of the Russian industrial zone in Egypt will be set up soon, Russia's First Deputy Minister of Industry and Trade Gleb Nikitin said Wednesday.

CAIRO (Sputnik) — Earlier in the day, a delegation of the Russian Ministry of Industry and Trade arrived in Cairo with a two-day visit to discuss the project,  the ministry said in a statement. The presentation of the industrial zone took place in the Russian Center for Science and Culture.

“We are planning to establish the managing company soon, it is going to finish the work, previously started with the assistance of the colleagues for the Technopolis Moscow and the Russian Export Center, here in Egypt,” Nikitin said at the presentation.

Cairo and Moscow reached a decision to create an industrial zone in 2014. The zone is expected to focus on the production of trucks, agricultural tractors, chemicals, as well as reinforced-concrete products to be further sold to African and the Middle Eastern states.