US companies are willing to open a pharmaceutical factory in the Suez Canal Economic Zone (SCZone), Invest-Gate reports.

“A delegation from US companies based in San Francisco and New York will visit the SCZone headquarters in the upcoming period to discuss the project’s implementation,” Chairman of SCZone Ahmed Darwish said.

In a recent visit to the US, Darwish held talks with representatives from US companies and promoted investments in the SCZone, according to MENA.

Meanwhile, Darwish announced that a Russian industrial zone will soon be launched in East Port Said. The announcement came following a meeting between Darwish and Russia’s first Deputy Minister of Industry and Trade Glib Nikitin.

During the meeting, the two officials agreed that Russia will get a plot of land spanning an area of two mn square meters in the SCZone to develop the project over two phases.