CONSTRUCTION OF RUSSIAN INDUSTRIAL ZONE IN EGYPT UNDERWAY: RUSSIAN FM

MOSCOW, Russia- The construction of the Russian industrial zone, in the Suez Canal area has begun, according to Russian Foreign Minister, Sergey Lavrov.

Trade between Russia and Egypt is increasing, currently exceeding 6.5 billion U.S. dollars, Lavrov wrote, in an article for Egypt’s state-run Al-Ahram Daily newspaper, quoted by Sputnik news agency, on Saturday.

Besides the industrial zone, a Russian-style nuclear power plant, in the northern coastal town of El Dabaa, also has started its construction, according to Lavrov.

The diplomat praised the work of intergovernmental commissions on trade and economic, and defence industry cooperation.

Russia was ready to boost coordination with Egypt, on various multilateral platforms, for maintaining peace and security in the Middle East, added Lavrov.

In late May, the Egyptian and Russian governments signed, in Moscow, an agreement to build a Russian industrial zone, on an area of 5.25 square km, in the SCZone, with investment estimated at seven billion dollars.

The Suez Canal Corridor development is one of Egypt’s mega national projects, that the country counts on, to attract foreign investments and boost economy, after years of slowdown.

Source: NAM NEWS NETWORK