GV Investments signed a memorandum of understanding (MoU) with Russia’s industrial cluster in Tatarstan during the Egypt-Russia Cooperation Forum 2023 held by the General Federation of Chambers of Commerce, Invest-Gate reports.

The agreement aims to build mechanisms for cooperation and exchange of expertise in various fields, boosting economic ties between Egypt and Tatarstan along with other African states.

GV Investments was the sole Egyptian company at July’s Russia-Africa conference in St. Petersburg attended by President Abdel Fattah El-Sisi.

Chairman Sherif Hammouda said GV Investments focuses on developing its Tarboul Industrial City and forging partnerships to strengthen Egypt’s industrial sector.

The greenfield Tarboul project, located near Giza, is slated as Egypt’s first green and smart industrial city spanning 26,000 acres.