Egypt’s SCZONE revenue hits EGP 8.25b, up 36% in ’23-’24

The General Authority for the Suez Canal Economic Zone (SCZONE) achieved total revenues of EGP 8.25 billion during the fiscal year 2023-2024, marking a 36 per cent increase from the previous fiscal year’s revenues of 6.07 billion pounds.

The Authority recorded a surplus of EGP 5.42 billion in the fiscal year 2023-2024, compared to the previous year’s surplus of EGP 4.08 billion, reflecting a 33 per cent increase, SCZONE’s Chairman, Walid Gamal El-Din, said in a statement.

Furthermore, 218 projects in industrial zones and ports received either final or preliminary approvals, totaling investments amounting to $5.12 billion.
Of these, 98 projects received final approvals with investments totaling $2.23 billion, while 120 projects received preliminary approvals with investments amounting to $2.89 billion.

The West Qantara Industrial Zone saw extensive promotional efforts during the fiscal year 2023-2024, resulting in the actual contracting of six projects, final approvals for two projects, and ongoing studies for seven other projects.
This brings the total planned projects in West Qantara to 15, with expected total investments amounting to $1.33 billion, covering an area of 1.57 million square metres.

SCZONE has also signed 15 framework agreements for green hydrogen with major global companies and alliances.

Attribution: the Egyptian Cabinet.