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Russia: the size of the region's industrial investments in Egypt amounted to $ 4.6 billion

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rocky
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Russia: the size of the region's industrial investments in Egypt amounted to $ 4.6 billion

Post by rocky on Wed 13 Jul 2016, 2:16 am

[ltr]Russia: the size of the region's industrial investments in Egypt amounted to $ 4.6 billion[/ltr]

 Since 07.13.2016 at 08:38 (Baghdad time)
[ltr][/ltr]
[ltr]Follow-up - the balance of News[/ltr]
[ltr]Report to the Ministry of Commerce and Industry of Russian Federation reported that the volume of investments in the Russian industrial zone to be established in Egypt's Port Said area would be about $ 4.6 billion by 2035.[/ltr]
[ltr]In a report prepared by the Russian ministry's experts on this matter and reported the agency "Novosti", the experts said the Russian industrial zone will be established on the two thousand hectares, expecting that this region provides 77.5 thousand workplace.[/ltr]
[ltr]The report also pointed out that most of these investments come from the private sector, pointing out that the region will return to proceeds of up to $ 11.6 billion on corporate and individual employees.[/ltr]
[ltr]Ministry of Commerce and Industry of Russian Federation said that the area planned generated is expected to begin its work in 2018. While expected, Minister of Trade and Industry of Egypt, Tarek Cain, earlier that the region started its work in 2017/2016, immediately after reaching an agreement on the projects which will be held on .[/ltr]
[ltr]Russia and Egypt have signed last February a Memorandum of Understanding on the establishment of a Russian industrial zone in the Suez Canal area, which will include the production of tractors and agricultural products petrochemical projects, and other products. This industrial zone will enjoy tax exemptions.[/ltr]
[ltr]The Minister of Trade and Industry of Egypt then that the region will extend through two million square meters of land east of Port Said, Suez Canal within the development axis.[/ltr]
[ltr]Egypt and aimed at specific sectors and industries as an industry tractors, and the pharmaceutical industry, and other industries. It is possible that companies such as "KAMAZ" and "UAZ" for the manufacture of trucks and cars, and "Gazprom oil" oil arm of Russian gas giant "Gazprom", the Russian presence in the industrial area.[/ltr]
[ltr]And gives the establishment of the Russian industrial zone in Egypt a new impetus to the strategic partnership between Egypt and Russia, and will extend its impact for years and will contribute to the consolidation of relations between the two countries. It ended 29/4 e[/ltr]


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