Egypt: Russian Industrial Zone to Be Built Under Usufruct Right-- SczoneSource: www.export-egypt.com 3/4/2017, Location: Africa |
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Chairman of the General Authority for the Suez Canal Economic Zone (SCZone) Ahmed Darwish said that a Russian industrial zone in Eastern Port Said will be built under a usufruct right for 50 years.
"The Suez Canal Economic Zone has come a long way in the negotiations with the Russian developer, which started in November," Darwish said in a statement following his meeting with Russia's First Deputy Minister of Industry and Trade Glib Nikitin. "The Russian side will get a land in the zone under usufruct right for 50 years and will develop the land in line with a general plan approved by the board of the authority," he said. The project will be built through two phases, which will cover two million square meters, he said. |
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