Russia may start production in Suez Canal industrial zone in two years - Board Chairman

CAIRO, February 1. /TASS/. Russia will be able to start its production in the industrial zone developed in the Suez Canal area in two years, Board Chairman of the General Authority for Suez Canal Economic Zone Ahmed Darwish told TASS on Monday in an interview. "We anticipate Russia will be able to build shops and workshops and start production in areas, where appropriate infrastructure will be created," Darwish said. Russia is expected to receive an area of two million square meters there,. The industrial zone in the Suez Canal area is broken down into four segments with six adjacent ports, Darwish said. "These segments have different readiness. The zone in El-Sokhna (southern part of the Gulf of Suez) is ready to the larger degree and production may already start there, particularly in the field of heavy industry," he added. As far as the other areas are concerned, infrastructure in the western segment will be ready in two-three months and the first million square kilometers in the eastern district of Port Said will be developed in six months, Darwish said. The memorandum of understanding on creation of the Russian industrial zone to be signed in Cairo on February 2 will specify Russia will take the area of 2 mln square meters in the eastern part of Port Said, with opened production facilities in specific economic areas, Darwish said. A port will be developed there in the nearest future, he added. Read more