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Initial investments of Russian industrial zone residents in Egypt estimated at $324.9 mln

September 28, 2016, 20:47 UTC+3 MOSCOW

Industry Ministers of Russia and Egypt signed a memorandum on the establishment of the Russian Industrial Zone on February 2

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MOSCOW, September 28. /TASS/. Investments of companies - residents of the Russian industrial zone in the city of Port Said (Egypt) on the first stage of the project are estimated at $324.9 mln, according to the documents for the Egyptian side in the course of technical consultations, available with TASS.

The representatives of Russia’s Industry and Trade Ministry and Technopolis Moscow have arrived to Egypt and are holding consultations with the chief department of the Suez Canal economic zone, a source close to the talks told TASS.

"Currently, technical consultations are underway to approve the text of the agreement on the Russian industrial zone in the eastern part of the city of Port Said, in the northern end of the Suez Canal, "the source said.

Technopolis Moscow is a specialized territory for the development of high technology industries located in close proximity from the city center.

Stages of the project

The project of the Russian industrial zone will be implemented in three stages.

The first stage is expected to be completed by 2020. At that stage the area of the industrial zone will be 80 hectares.

Besides investments of resident companies the project envisages investments in the infrastructure worth $149.6 mln.

On the first stage the annual profit of residents is seen at $380.2 mln.

Among potential residents on this stage are car and truck makers Kamaz, Gaz Group, UAZ, Russian enterprises of Renault,

The Russian companies that may become the residents on the first stage include, Gaz Group of companies, as well as Chelyabinsk Tractor Plant, the Tractor Plants Concern, Transmashholding, oil companies Gazprom Neft and Tatneft, energy holding Inter RAO UES, Morton developing company, according to the documents of the meeting.

The second stage of the construction will be completed in 2025. By that time the area of ··the industrial zone will grow to 200 hectares. For this purpose $405 mln will be invested in the infrastructure. On this stage, investments and annual revenues of the residents are estimated at $906.7 mln and $1.014 bln, respectively.

The third stage will be completed by 2035. On its completion the zone’s area will be ··2,000 hectares. Investments in the infrastructure on the third stage are estimated at $4.042 bln. Investment and annual revenues of residents can make $10.137 bln and $9.07 bln respectively.

Concept of the Russian industrial zone

The concept of the Russian industrial zone was designed by the Industry and Trade Ministry in cooperation with the Rosengineering project company, the Russian Association of Industrial Parks and Technopolis Moscow.

The architectural plan provides for the division of the zone into two areas: Moscow with a system of radial streets and St. Petersburg with a system of canals.

Industry Ministers of Russia and Egypt signed a memorandum on the establishment of the Russian Industrial Zone on February 2, 2016.

The project envisages the creation of a special zone with lighter tax regime for Russian resident companies. The industrial zone will house local production facilities of Russian industrial enterprises from various sectors of economy: automotive industry, petrochemical industry, energy, medicine, building materials. In the future, a port can be built on the territory of the Russian industrial zone.

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