Russia is set to develop its proposed industrial zone in the East Port Said area in Egypt, according to a statement released by the chairman of the Egyptian Industrial Development Authority (IDA), Ismail Gaber.

Local reports say that negotiations between the IDA and the Russian government for the industrial zone are set to resume again after being stalled due to the crash of the Russian passenger plane over the Sinai area on 31 October.

Meanwhile, Egypt’s IDA has said that the 2 million square metre Russian industrial zone will service industries such as engineering, machineries, ship manufacturing and foods.

In early September, MEED reported that the UAE’s Aramex is currently in talks with Cairo-based Orascom Telecom Media and Technology Holding for the development of several logistics projects in Egypt. Damman-based Zamil Industrial is also set to develop a 202,342-square-metre logistics centre, which will be built in the Qena governorate.

Cairo is currently planning to develop a master industrial and logistics zone surrounding the main ports of the Suez Canal. The government recently approved a draft decree establishing the General Authority of the Economic Zone of the Suez Canal (GAESC), changing the area into an economic authority, allowing the SCZone to act as a single window able to deal with investors directly.