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“Russ Teselmash” announces its readiness to start work at Russian industrial region in Egypt.

 Russian “Russ Teselmash” company   has announced yesterday that it seeks to make an agreement to participate in Russian industrial region’s work at East Port Said, presumed to commence implementation during current year. Where the Russian company has announced in January 2017 that it sent first lot of the industrial region’s equipment; where Egypt and Russia have signed, at the time, a memorandum for the establishment of Russian industrial region in Egypt on February 2018:  of an area reaching 5.29km on three phases along a period of 13 years as from current year and with total investments 6.9 milliard dollar.

  Both Egyptian and Russian governments have complete supervision over the project as a whole, where financing of projects established at the region is through investment Russian Fund directly and a number of Egyptian banks, in order to provide for required support for the establishment of the investment projects between private sector businessmen of both countries.