CAIRO – 7 February 2024: The Suez Canal Economic Zone (SCZONE) recorded a total revenue of LE 4.3 billion in the first half (H1) of fiscal year 23-24, covering the period from 1 July to 31 December 2023.
This represents an increase of approximately 70 percent compared to the same period in 2022, where the revenue was LE 2.6 billion. The Chairman of SCZone, Walid Gamal El-Din, made this announcement.
Furthermore, the Authority approved the estimated draft budget for the upcoming fiscal year 24-25, amounting to LE 37.3 billion. This budget includes an investment budget of LE 28.6 billion and a current budget of LE 8.6 billion, as highlighted by the chairman.
In the H1 of the current fiscal year 23-24, the Authority reviewed its promotional efforts and granted final approval to 48 projects with a combined investment of $991 million.
Additionally, 42 projects received initial approval, involving investments totaling $908 million. These investments came from various countries, such as China, Saudi Arabia, India, Turkey, Germany, and Japan. During this same period, 31 companies were established with a total issued capital of $28.6 million.
El-Din emphasized that four new projects in Qantara West were approved, with a total investment of $111.5 million.
Furthermore, the approval was granted for the first data center project, known as the Kemit Egypt Data Center, in the Sokhna Industrial Zone.
This project will be implemented in two phases, with a combined investment cost of $224 million. The first phase will require $148 million, and the second phase will cost $76 million.
Comments
Leave a Comment