The Russian Federation and Egypt have signed an agreement on the transfer of a land plot for a Russian Industrial Zone (RIZ) in the Arab Republic of Egypt. This was announced by Anton Alikhanov, head of the Russian Ministry of Industry and Trade. The document formalizes the terms of long-term use of the site between the Suez Canal Economic Zone Authority and a newly established Russian company that will act as the project developer.

According to Alikhanov, a preferential three-year rent-free period for construction works will begin this year. The RIZ project has attracted interest, particularly from pharmaceutical companies.

The minister added that a presentation of the RIZ’s opportunities for Russian companies is planned at the International Industrial Exhibition INNOPROM.

Source