$8.27 bln new investments negotiated by SCZONE
Data from the General Authority for the Suez Canal Economic Zone (SCZone) showed the current position of the projects being negotiated in the coming period.
The number of projects being negotiated during the fiscal year 2023/2024 reached 20 in industrial zones, with a value of $8.27 billion in expected investments.
The projects being negotiated are expected to provide about 23,000 job opportunities, in addition to 4 direct contract projects with SCZONE with investments of about $1 billion.
A total of 55 industrial projects received initial approval at a total investment cost of $1.7 billion.
As for green fuel projects, 9 framework agreements were signed with a total expected investment of $83 billion, targeting the production of about 15 million tons of green fuel of all types annually, on an area of 32 million square meters in industrial zones and 700,000 square meters in ports. The authority plans to sign eight more agreements in the coming months.
The Authority’s Board of Directors meeting approved the final account for the fiscal year 2022/2023, where the economic zone’s total revenues exceeded LE6 billion for the first time in its history, compared to LE3.490 billion during the fiscal year 2021/2022, an increase of 78 per cent, which reflects the success of the steps taken.
The Authority has created new aspects of revenues at its affiliated ports by providing ship bunkering services, as well as maximizing the revenues of the industrial zones and other projects and contracts that the Authority has worked to implement with success partners within the framework of its strategy to develop its affiliated seaports and integrate them with the industrial zones.
