The Suez Canal Economic Zone (SCZONE) announced it signed contracts for 60 projects in industrial zones and ports with a total investment value of $3.57 billion during the last fiscal year (FY) 2022/2023, according to an official statement.
The achievement is aligned with SCZONE’s vision to boost a competitive local industrial sector that can cover the local demand for several industries and meet our export plan.
About 53 of these projects were in industrial zones, worth $2.23 billion, while the remaining seven were in ports, worth $1.34 billion, according to the Chairperson of SCZONE, Waleed Gamal El-Din.
Gamal El-Din said that SCZONE gave preliminary approval to another 55 industrial projects, with a total investment cost of $1.7 billion, and registered 68 new companies in the region.
In addition, 50 companies obtained a construction license, and 11 framework agreements were signed to produce various types of green fuel annually.
Gamal El-Din said that the SCZONE’s participation in the International Manufacturing Convention and Exhibition (IMCE) is significant, as it showcases its four industrial zones and six seaports that have been equipped with international-standard infrastructure at $3 billion.
The SCZONE’s strategy aims to localize 21 industrial and service sectors, including the green fuel industry and its related industries.
If you see something out of place or would like to contribute to this story, check out our Ethics and Policy section.