Russian industrial zone contracts to be signed tomorrow? Egypt and Russia look set to sign contracts for a 5.23 mn sqm Russian Industrial Zone on Wednesday, 23 May, during the 11th session of the Egyptian-Russian Economic Committee, according to a Russian trade ministry statement. Prep meetings for the session, which will be headed by Trade and Industry Ministers Tarek Kabil and Denis Manturov, kicked off yesterday, Al Masry Al Youm reports.

Also tomorrow, the Transportation Ministry will break ground on the third phase of Cairo Metro Line 3, Al Ahram reports. Once completed, the 18-km metro line is set to run from Imbaba to Cairo International Airport with 15 stops. A EUR 900 mn loan is covering 60% of the costs of the project.

The IMF should issue its progress report on Egypt’s economic reform program by the end of the week, Deputy Chief of Media Relations Alistair Thomson has said.

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