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Russian Delegation to Visit Suez Canal Economic Zone Next Week, Source Says

© REUTERS / HANAA HABIBShips are anchored outside the Suez Canal, where a container ship ran aground and blocked traffic, near Ismailia, Egypt, March, 28, 2021.
Ships are anchored outside the Suez Canal, where a container ship ran aground and blocked traffic, near Ismailia, Egypt, March, 28, 2021. - Sputnik International, 1920, 23.08.2021
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CAIRO (Sputnik) - A Russian delegation is set to visit the Suez Canal Economic Zone next Saturday to discuss further development of the Russian Industrial Zone (RIZ) there, a source in the Egyptian administration has told Sputnik.
"The delegation will meet with the head of the Suez Canal Economic Zone Administration, Yehia Zaki, as well as with a number of Egyptian officials and will tour the Suez Canal Economic Zone to determine the opportunities and conditions for investment", the source explained.
FILE PHOTO: Ever Given, one of the world's largest container ships, sets sail to leave through Suez Canal after the canal authority reached a settlement with the vessel's owner and insurers, in Ismailia, Egypt, July 7, 2021. - Sputnik International, 1920, 19.08.2021
Ever Given to Attempt on Friday First Passage Through Suez Canal Since Blockage, Source Says
Zaki previously mentioned that work on the project is scheduled to start closer to the end of the year, once the agreement is finalised. It is assumed that the first stages of the project will be developed on a 247-acre area east of Port Said and 123.5 acres within Ain Sokhna.
In March 2018, the Egyptian government approved the creation of a Russian Industrial Zone to allow Moscow to localise products manufactured for Egyptian, African, and Middle Eastern markets. Russian developers are allowed to lease the area for 50 years.
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