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Suez Canal Economic Zone (SCZONE) received a total revenue of EGP 4.3 billion during the first half of the fiscal year 2023/2024 compared to EGP 2.6 billion during the same period in 2022, an increase of approximately 70%, according to a statement by the Chairman of SCZone, Walid Gamal El-Din.
The Suez Canal Economic Zone (SCZONE) received a total revenue of EGP 4.3 billion during the first half of the fiscal year 2023/2024 compared to EGP 2.6 billion during the same period in 2022, an increase of approximately 70%, according to a statement by the Chairman of SCZone, Walid Gamal El-Din.
SCZONE also approved the estimated draft budget for the fiscal year 2024/2025 with a total value of EGP 37.3 billion, including an investment budget worth EGP 28.6 billion, and a current budget worth EGP 8.6 billion, the chairman added. The authority’s promotional position was reviewed during the H1 of the current FY 23-24, which included 48 projects receiving final approval with a total investment of USD 991 million.
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He added that 42 projects received initial approval and with investments of USD 908 million. These investments included several countries, including China, Saudi Arabia, India, Turkey, Germany and Japan. During the same period, 31 companies were established with an issued capital of USD 28.6 million.
El-Din indicated that 4 new projects received approval in Qantara West, with a total investment of USD 111.5 million. In addition to the approval of the first data center project, which is in the Sokhna Industrial Zone, with an investment cost of USD 224 million in two phases. These two phases came as follows: the first phase is USD 148 million, and the second phase is USD 76 million.
