February 19, 2019
The chairman of the Suez Canal Authority and Suez Canal economic zone, Mohab Mameesh, announced that it was agreed with the Russian party, represented by the Russian Export Center, to establish a company to operate and manage the Russian industrial zone. It was agreed that it would be completed before April, the Russian party also agreed to provide all the guarantees to ensure the company’s commitment to establish and manage the project.
The Admiral and the Russian party discussed the need to form a joint committee to conduct the work and follow up what’s being carried out and implemented within the project. Meeting will be held periodically every two months for the Egyptian-Russian Joint Committee represented in the Economic Commission and the Center of Russian exports, to follow up on the development and implementation Procedures for establishing the company until completion, the meetings will be held in Cairo and Moscow.
The Admiral added that the Economic Authority approved the Russian party’s request to amend the regions coordinates, prepare the land and improve the soil.
Mameesh confirmed that what was achieved during today’s meeting was a great success for both countries in general, and a success for the Economic Commission in its negotiations with the Russian party in this project, which will provide about 35 thousand job opportunities.
The Admiral described the meeting as fruitful, it resulted in many agreements between the two parties, which confirms the common vision and interest between the two countries, reflects the strength of bilateral relations between Egypt and Russia, and paves the way for the regions success. He pointed out that many Russian companies are interested in the Russian industrial zone and are would like to establish branches in Egypt considering it a gateway to the countries of Europe, Africa and the Middle East.
After the meeting between the two parties, Mohab Mameesh, Major General Mohamed Praia, Vice chairman of Northern Region Authority, and the delegation attended a workshop attended by representatives of 200 major Russian companies interested in investing in the region. The regions systems, incentives, procedures, regions procedures and “single window” system were presented during the workshop. Among these companies is Hevel Solar, Russia’s largest integrated solar energy companies’, seeking to build large-scale solar plants, providing independent power producers (IPPs) for remote areas and industrial facilities. Also TAIF Group one of the largest companies in Russia and the Tatarstan region, which operates in the fields of communications, oil refining, petrochemicals, construction and construction, and AvtoKran for the production and manufacture of tow trucks, which account for about 35% of the Russian tow truck production.