Russia is willing to participate in creation of industrial zone at Suez Canal, Dmitry Medvedev says

Russian companies are willing to participate in creation of an industrial zone in the Suez Canal, Prime Minister Dmitry Medvedev said in his interview with Egyptian daily Al-Ahram before his visit to Egypt. According to Dmotry Medvedev, this issue is now being actively discussed at the ministerial level.

“Work is underway to develop a concept for this project, taking into account the market needs of Egypt and other Middle Eastern and African countries”, Dmitry Medvedev said.

According to him, the next meeting of the bilateral intergovernmental commission is slated for December. 

“I think that by that time we will have a good and thorough understanding of how the entire project will work. We expect to sign a bilateral memorandum of understanding and a roadmap for its implementation,” said the Prime Minister of Russia.

The Suez Canal expansion project involves the widening and deepening of the Canal at Great Bitter Lake in Egypt, over a length of 25 km and to a depth of 24m.