The U.S. bank, which counts Asia as its fastest growing region, employs more than 600 people in its corporate banking business in the region and would make select hirings to bolster its presence, Gerald Keefe, newly appointed head of Asia Pacific corporate banking, said.

"These companies have achieved scale quickly and now increasingly are growing in developed markets," Keefe said, referring to what the bank calls emerging market champions in countries such as China and India.

Citigroup announced the appointment of Keefe as Asia Pacific corporate banking head in April, a new role that brings together bankers working for clients from financial institutions, public sector entities, corporates and local units of global firms.

"One of the priorities in the new role is to deliver stable top-line growth for corporate banking in Asia in an efficient and responsible manner," Keefe, who was previously the bank's corporate banking head in Japan, told Reuters.

Citigroup's enhanced focus on the corporate banking business in Asia comes against the backdrop of a drop in revenues from trading and deal advisory and underwriting in the first quarter that weighed on its earnings.

Citigroup Chief Executive Officer Mike Corbat indicated last month that the bank's second-quarter net income will be roughly 25 percent lower than the same period a year earlier. The bank is due to report on Friday.

Under the corporate banking business in Asia, its offerings include cash management, foreign exchange, trade finance, loans, and capital markets and structured products solutions. The unit will work closely with investment banking and markets teams.

In a sign of its increasing focus on high-growth firms in the region, Citigroup was one of the lead arrangers in three separate loan deals of Chinese Internet giants Alibaba Group, Baidu and Tencent Holdings, which raised a combined $10.4 billion earlier this year, according to Thomson Reuters LPC data.

"We have leading corporate champions in China as our clients ... they are now in many ways global businesses," Keefe said. "We are uniquely positioned to help them expand globally with our network in over 100 countries."

In Asia, the bank is also looking to grow its supply-chain financing business, in which target clients range from car component makers to telecoms equipment producers, as these firms look to expand their geographical footprints, Keefe said.

(Reporting by Sumeet Chatterjee; Editing by Susan Fenton)

Most of the money will come from private investors. Russian companies Kamaz, GAZ, UAZ, Transmashholding, Gazprom Neft, Tatneft, Inter RAO and others will be part of the new industrial hub. According to the ministry, the new zone is expected to provide 77,000 jobs, while the resident companies can expect revenues to reach $11.6 billion.

Cairo said in February that Russia has selected East Port Said to establish an industrial park in Egypt. Construction of the two million square meter park will start in 2018.

Russian companies will design and construct the industrial facilities, jointly produce and supply various types of equipment, and provide the necessary technical assistance.

The new industrial zone will have a friendlier tax regime for resident Russian firms. The tax rate for companies in the project and personal income tax will be 10 percent. Sales tax will be abolished.

According to the CEO of Technopolis Moscow Igor Ishchenko, the new industrial park should become a platform for the expansion of Russian companies into Africa and the Middle East. "…The project involves creation of a comfortable and safe environment for working and living conditions,” he said.

In 2014 Egypt announced the modernization of the Suez Canal, which is one of the world's major transportation routes. Originally, it was planned to complete the work in three years, but later it was reduced to 12 months. The new Suez Canal will include a huge range of services, as well as several industrial parks, including Russian, Chinese and Italian.

The decision to build the Russian industrial zone in Egypt was agreed by Russian President Vladimir Putin and Egyptian President Abdel Fattah Sisi in 2014.