{"id":555526,"date":"2021-11-17T04:00:31","date_gmt":"2021-11-17T04:00:31","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/11\/17\/russia-unveils-riz-plans\/"},"modified":"2021-11-17T04:00:31","modified_gmt":"2021-11-17T04:00:31","slug":"russia-unveils-riz-plans","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/11\/17\/russia-unveils-riz-plans\/","title":{"rendered":"Russia unveils RIZ plans"},"content":{"rendered":"

<\/a> Russia unveiled the master plan for its industrial zone to Suez Canal Economic Zone <\/strong>officials<\/strong> during an official visit to Egypt on 14-16 November, Russian news agency Tass<\/a> reports. Russian Industry and Trade Ministry official Roman Chekushov told the news organization that Egyptian officials \u201chighly appreciated\u201d the plans revealed by the delegation, which consisted of representatives of the ministry, state development finance institution VEB.RF, and Russian companies.<\/p>\n

Russia and Egypt <\/strong>agreed the main terms<\/a><\/strong> of the project earlier this year<\/strong>, paving the way for work to begin on the site at the beginning of 2022<\/a>. The two sides have settled the lease period, the size of the land plot, the rent price and the deadline for site preparation.<\/p>\n

We\u2019re not clear on most of the terms<\/strong>, though we know that Egypt has to allow Russian companies to sell 100% of their locally-made products in the Egyptian market. Egypt is offering companies low-cost rents and preferential tax and energy tariffs to come over, but officials have yet to make the details public.<\/p>\n

We\u2019re not going to be seeing a full-sized RIZ for a long time:<\/strong> The project isn\u2019t expected to be completed for another 13 years.<\/p>\n

But companies could start appearing next year:<\/strong> If everything goes to plan, the first companies could start operations as soon as 2022.<\/p>\n

Some 50 companies will set up shop in the first two or three years:<\/strong> Leading Russian companies in the engineering, chemicals, metallurgy, pharma industries are interested in setting up shop in the zone, Chekushov said, without naming names.<\/p>\n","protected":false},"excerpt":{"rendered":"

Russia unveiled the master plan for its industrial zone to Suez Canal Economic Zone officials during an official visit to Egypt on 14-16 November, Russian news agency Tass reports. Russian Industry and Trade Ministry official Roman Chekushov told the news organization that Egyptian officials \u201chighly appreciated\u201d the plans revealed by the delegation, which consisted of […]<\/p>\n","protected":false},"author":1,"featured_media":555527,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7272],"tags":[72,125,270,3074],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-555526","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment-watch","tag-enterpriseam","tag-investment-watch","tag-russia","tag-russian-industrial-zone","wpautop","entry"],"acf":{"mongo_id":"921b0461-fd39-4258-9796-a15884e1f515","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/11\/491.jpg","photo_position":"above","related_issue":[555516],"teaser":"","voice_url":""},"yoast_head":"\nRussia unveils RIZ plans - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/17\/russia-unveils-riz-plans\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Russia unveils RIZ plans\" \/>\n<meta property=\"og:description\" content=\"Russia unveiled the master plan for its industrial zone to Suez Canal Economic Zone officials during an official visit to Egypt on 14-16 November, Russian news agency Tass reports. 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An\u2026","rel":"","context":"In "Diplomacy + Foreign Trade"","block_context":{"text":"Diplomacy + Foreign Trade","link":"https:\/\/enterpriseam.com\/egypt\/category\/diplomacy-foreign-trade\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":601201,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/02\/21\/eight-companies-sign-mous-to-invest-in-russian-industrial-zone-in-suez-canal\/","url_meta":{"origin":555526,"position":1},"title":"Eight companies sign MOUs to invest in Russian Industrial Zone in Suez Canal","author":"enterpriseam admin","date":"21 February 2019","format":false,"excerpt":"INVESTMENT WATCH- Eight companies sign MoUs to invest in SCZone\u2019s Russian Industrial Zone: Eight Russian companies signed yesterday MoUs with the Russian Exports Center to invest in the planned USD 7 bn Russian Industrial Zone (RIZ) in the Suez Canal Economic Zone, according to an SCZone statement. The companies signing\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":621966,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/11\/22\/russia-calls-onto-uae-businessmen-to-invest-in-its-egypt-industrial-zone\/","url_meta":{"origin":555526,"position":2},"title":"Russia calls onto UAE businessmen to invest in its Egypt industrial zone","author":"enterpriseam admin","date":"22 November 2018","format":false,"excerpt":"Russia calls onto UAE businessmen to invest in its Egypt industrial zone: Russian Economic Development Minister Maxim Oreshkin has called onto UAE businessmen to cooperate with his country by investing in a massive industrial zone it\u2019s building in Egypt\u2019s Suez Canal Economic Zone and other projects in the region, Russian\u2026","rel":"","context":"In "Diplomacy + Foreign Trade"","block_context":{"text":"Diplomacy + Foreign Trade","link":"https:\/\/enterpriseam.com\/egypt\/category\/diplomacy-foreign-trade\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":642314,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/08\/10\/russian-industrial-zone-to-draw-in-usd-7-bn-in-new-investments-russian-officials\/","url_meta":{"origin":555526,"position":3},"title":"Russian industrial zone to draw in USD 7 bn in new investments -Russian officials","author":"enterpriseam admin","date":"10 August 2017","format":false,"excerpt":"The Russian industrial zone that will be developed in Port Said is expected to draw in about USD 7 bn in new investments during its three construction phases, a Russian Industry Ministry official tells Sputnik\u2019s Arabic service. 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The remarks come days after Suez Canal Authority boss Mohab Mamish arrived in Moscow to finalize the agreement for the zone.\u2026","rel":"","context":"In "Other Business News of Note"","block_context":{"text":"Other Business News of Note","link":"https:\/\/enterpriseam.com\/egypt\/category\/other-business-news-of-note\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":622235,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/11\/29\/belarus-invited-to-take-part-in-russian-industrial-zone\/","url_meta":{"origin":555526,"position":5},"title":"Belarus invited to take part in Russian Industrial Zone","author":"enterpriseam admin","date":"29 November 2018","format":false,"excerpt":"Belarus invest in the USD 7 bn Russian Industrial Zone (RIZ), MENA quoted Belarusian Ambassador to Egypt Sergei Rachkov as saying, according to Belarus News. 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