Supervisor Elham AbolFateh
Editor in Chief Mohamed Wadie

Suez Canal Economy Zone Contracts 270 Industrial Projects with Investments Worth $83 Billion

Thu 24 Nov 2022 | 04:45 PM
Ahmed Moamar

Seif El-Din Mostafa, Director General of Finance and Direct Investment in the Suez Canal Economic Zone said that the Suez Canal Economic Zone is a public body that has lands designated for manufacturing under its jurisdiction, spreading between Port Said, Sinai, Ain Sukhna, and Ismailia Axial, including the port of Sokhna, and the high-speed train linking the Red Sea and the Mediterranean will start soon.

Mostafa added, in his speech during the activities of the second day of the Fingerprint Conference, in its fifth session, that there are currently about 270 industrial projects already operating in the industrial zone, and Egypt has signed 16 memorandums of understanding for the manufacture of green hydrogen in the integrated industrial zone in Sokhna and the signing of 9 executive contracts worth about $ 83 billion in direct investments. It ranges between one and 20 years, as well as the establishment of an integrated system aimed at producing green hydrogen by 2030, and this is only the first stage.