The Russian Krastvetmets visits SCZONE to establish a new facility in Sokhna zone

The General Authority for the Suez Canal Economic Zone received a business delegation from The Russian company Krastvetmets at its headquarters in Sokhna. The Russian company is working in the field of precious metals and their industrial uses. This meeting came within the framework of cooperation with the Russian companies in preparation for launching the Russian industrial zone in Sokhna integrated zone and East Port Said integrated zone. The delegation was received by General Mohamed Shaaban, the Vice chairman of SCZONE for the industrial zones’ affairs.

“we really appreciate your visit, as we have a strong bilateral relationship between Egypt and Russia. This meeting also reflects the agreement between the two sides to establish the Russian industrial zone in the integrated zones of Sokhna and East Port Said, which will open wider domains for more Russian companies to integrate within the strategic vision of SCZONE, benefit from SCZONE’s assets, and access the global markets, in the light of benefiting from international trade agreements that allow SCZONE’s investors to conquer various markets regionally and globally” Vice Chairman declared.

“SCZONE has direct and indirect incentives including (zero%) customs tax for all production requirements which are imported from abroad, a (zero) value-added tax on goods, merchandise, and services imported to the economic zone or exported abroad, one-stop-shop service, and several competitive incentives are offered for the investments.”Alaa Abd-Elkarim The Chairman’s advisor for Taxes and Customs Affairs added.

“Our company is looking forward to cooperating with SCZONE in establishing a facility to produce some intermediate products used in the manufacturing and production of nitric acid, which is considered a major component in the fertilizer industry. The company aims to build a regional hub for this industry in SCZONE, which will require advanced technologies.”Mr. Dmitri Obedin, the engineering marketing manager of Krastvetmets said.

It is worth noting that the Russian company Krastvetmets is specialized in industrial applications of precious metals which are used in various industries, especially the fertilizer industry.