RIYADH: Egyptian President Abdel Fattah El-Sisi reaffirmed Cairo’s commitment to deepening economic ties with Russia, highlighting the Dabaa Nuclear Power Plant and the planned Russian Industrial Zone in the Suez Canal Economic Zone.
The comments came during a meeting with Nikolai Patrushev, a senior Kremlin aide and chairman of Russia’s Maritime Board, as both sides pushed to accelerate trade and industrial cooperation amid broader geopolitical and economic uncertainty.
According to a statement from Egypt’s presidency, El-Sisi said bilateral cooperation is gaining momentum, particularly in trade and large-scale joint projects, led by the Dabaa nuclear facility and the Russian Industrial Zone in the SCZone.
It added: “This is in addition to other projects that demonstrate the profound and unique characteristics of Egyptian-Russian ties.”
The two projects have become the centerpiece of Russian-Egyptian economic relations in recent years, alongside cooperation in grain supplies, tourism and investment flows. Both sides have repeatedly affirmed their commitment to strengthening trade and economic ties under their Comprehensive Strategic Partnership agreement.
Patrushev said his visit reflected Moscow’s commitment to implementing agreements reached during El-Sisi’s visit to Russia in May 2025, as well as follow-up discussions between the two leaders earlier this year.
Separately, Egyptian Foreign Minister Badr Abdelatty met Patrushev and called for broader Russian investment in the North African country, particularly in strategic sectors linked to industrial development and infrastructure.
He also stressed the importance of the diplomatic path for US-Iranian negotiations to avoid widening regional conflict and its global economic impacts, including on energy prices and supply chains.
Patrushev, in turn, affirmed his aspiration to expand joint cooperation frameworks to broader horizons.
The diplomatic meetings coincided with a new investment announcement in the SCZone, which Egypt is positioning as a manufacturing and logistics hub for foreign investors, including Russian companies.
SCZone said it signed a $100 million agreement with UAE-based Alpha Smart for Investing to develop an integrated pre-fabricated factory complex in the Sokhna Industrial Zone.
The project will be built on a total area of 500,000 sq. meters, implemented in two phases. “Direct investments for the project amount to about $100 million, with expectations of attracting additional industrial investments exceeding $150 million, providing about 5,000 direct jobs and more than 7,000 indirect jobs,” a statement said.
Walid Gamal El-Din, chairman of the SCZone, said the ready-factory model is helping accelerate industrial activity in Sokhna by allowing manufacturers to begin operations within 90 days.
