Russia is currently working on establishing the first phase of the Russian industrial city in Egypt, which is described as the largest Russian industrial city in Egypt.
Karim El-Omda, professor of international economics, stressed the importance of Egyptian-Russian relations at all levels, especially the economic aspect, pointing out that Russia is currently building the first phase of the Russian industrial city in Egypt, which bears the name “City of the Sun.”
Karim El-Omda added, in exclusive statements to RT, that the city will have the petrochemical industry, metro and railway vehicles for the first time in Egypt, and an area for the car industry, noting that the volume of investments in the Russian city of the sun amounts to more than $7 billion.
The economist pointed out that the Russian industrial city of El Shams in Egypt is considered one of the largest Russian industrial cities outside Russia, indicating that there is a large Russian trend towards the region.
He added that Russia is building the largest project in Egypt, the Dabaa nuclear project, which is a dream for all Egyptians that Egypt has nuclear technology for peaceful purposes, noting that the credit for this matter goes to Russia.
He explained that the importance of cooperation between Egypt and Russia to build the Dabaa nuclear plant is not only financial, noting that there are many countries, especially the United States of America, that do not want to transfer nuclear technology to Egypt, while Russia welcomed Egyptian cooperation with a percentage of the local component, which indicates the strength of relations. Russian Egyptian.
The professor of international economics pointed out that nuclear power plants contribute to the production of clean energy, and work to save a lot in the volume of energy production compared to other plants, pointing out that uranium has a longer life and is cheaper.
He explained that Russia is working to localize technology in Egypt, pointing out that Western countries do not localize their technologies in other countries, unlike Russia and China, noting that the volume of production in the Sun City and the Chinese city of Teda, part of it will be exported abroad.
The Egyptian-Russian negotiations on the establishment of the Russian industrial zone in the country of the pyramids began after the meeting of the two presidents, Vladimir Putin and Abdel Fattah El-Sisi in Sochi in 2014. In August 2017, the actual negotiations began on the establishment of the zone.
The “pivotal project for Russian-Egyptian cooperation” provides accommodation in offices east of Port Said or branches of automobile, petrochemical, energy, medicine, and heavy construction materials companies, as the special economic zone in Egypt is considered a launching pad for expanding business for Russian companies in Egypt, the Middle East, and Africa, as Egyptians look at the industrial zone. Russian as a pilot project in the economic zone of the Suez Canal.
The investments of the Russian industrial zone will amount to 4.6 billion dollars, as it will be called “Sun City”, meaning the city of the sun, and it will be built on an area of two thousand hectares. The city is located on the Egyptian coast of the Mediterranean Sea, near the Suez Canal, through which 20% of world trade passes.
The Russian spirit will be added to this industrial city, as it will be built in the shape of a semi-circle, and it will consist of two parts: an eastern one that will be called “Moscow” and a western one that will be called “St. There will be a recreational area and a triangular garden so that the residents of this city can spend their free time.
This article was originally published by RT.