Total Investments in SCZone Amount to $18 Billion- Chairman

Yehia Zaki, head of the General Authority for the Economic Zone of the Suez Canal (SCZone) confirmed that the economic zone seeks to become a destination for investors due to its great comparative advantages.

Zaki noted that the total investments in the zone amount to $18 billion so far, and contracts worth $18 billion have been signed, while $10 billion is currently being implemented.

Zaki explained that the economic zone includes 6 ports: Ain Sukhna, East and West Port Said, Adabiya, Arish, and El Tour, and 4 industrial zones: Ain Sukhna, East Port Said, West Qantara and East Ismailia with a total of 460 million meters.

This came during his meeting with Karam Gabr, head of the Supreme Council for Media Regulation at the headquarters in Maspero, according to the Middle East News Agency.

He added that the region worked on preparing the infrastructure for ports to match international ports and maximize their competitiveness, as well as industrial zones in accordance with international standards.

The zone targets green economy and its various industrial applications, such as the green hydrogen industry, one of the most important sources of clean energy globally, which attracts global investors," Zaki said, adding that this comes from the potentials enjoyed by the economic zone, especially its distinguished location on both sides of the most important waterways.

He explained that there were many offers submitted to the economic zone to establish green hydrogen projects, which included several companies specialized in this field, including the first project to produce green ammonia within the industrial zone in Sokhna, affiliated to the economic zone, through a global alliance and the Sovereign Fund of Egypt, and the economic zone has also received several other initial offers to establish green hydrogen projects within its scope, whether in the Integrated Sokhna area, or the East Port Said area.

He pointed out that the start of the implementation of the green ammonia production project coincides with Egypt's hosting of the "COP27" climate summit, which is a good opportunity to announce the actual start of green hydrogen projects in Egypt in general, and in the economic zone in particular.

Zaki pointed to the targeted industries that the region is working to attract, whether through local or foreign investors, as the region is working to localize some industries in the East Port Said region, such as railway vehicles, cars spare parts, ship supplies, and spinning and weaving machinery.

The region is also working to make the Sokhna area a center for petrochemical industries, as it is an integrated area that benefits from the Port of Sokhna, referring to the criteria for selecting these sectors and their returns to the state represented in meeting the needs of the local market, reducing imports, increasing export rates and upgrading the quality of industry.

At the end of the meeting, it was agreed to sign a protocol between the Supreme Council for Media Regulation and the General Authority for the Economic Zone of the Suez Canal, aimed at organizing visits for journalists and media professionals to the economic zone, beginning with the Ain Sukhna region, to learn about the projects and investments that take place there.