Suez Canal Economic Zone
According to an official statement, SCZone's ports handled a total trading volume of 36 million tons during FY2023/2024
Due to the ongoing Israeli war on the Gaza Strip and the Yemeni Houthis’ attacks against Israeli, UK and US ships in the Red Sea in response to the Israeli war against the Palestinians, Egypt’s Suez Canal revenues have sharply declined.
The Green Marine chemical project consists of three phases. In the first phase, which covers an area of 300,000 square meters, the project is expected to generate an annual revenue of $230 million.
Spanning over an area of 270,000 square meters, the Xin Xing factory has an annual production capacity of 250 thousand tons
During the meeting, El-Din emphasized the significance of the economic zone as a national project aimed at supporting sustainable practices, contributing to Egypt's gross domestic product, generating employment opportunities, and establishing integrated industrial complexes with effective environmental systems
The factory will be responsible for designing, manufacturing, and installing grain storage silos, as well as their components and accessories.
One of the key points of discussion was the possibility of conducting trade transactions using the local currencies of both countries
The agreements include investments of $12 billion for the pilot phase and approximately $29 billion for the first phase
This represents an increase of approximately 70 percent compared to the same period in 2022, where the revenue was LE 2.6 billion
The factory, covering an expansive area of 26,000 square meters, is expected to create approximately 300 job opportunities
Prior to the framework agreement, exhaustive technical and financial feasibility studies will be conducted to ensure the viability and success of the complex.
With an estimated investment cost of $80 million, the project is set to generate 600 direct job opportunities
This goal comes after SCZONE garnered investments worth $1.3 billion in the first four months of the current fiscal year.
The EPAZ project is set to attract investments totaling approximately $240 million and create over 6,000 direct and indirect job opportunities
Xinxing Cathay International Group to invest $1.08 billion in two factories in the Suez Canal Economic Zone (SCZone), Xinxing head Jia Shirui said during a meeting
Through this expansion, an area of 21,000 square meters will be added to Hengtong’s factory in the Sokhna Industrial Zone.
The agreements outlined plans for new expansions and the establishment of an additional 3 km2 industrial zone within the Sokhna Industrial Zone
A memorandum of understanding between the Suez Canal Economic Zone and the Chinese United Energy Company was signed Tuesday to produce potassium chloride and a framework agreement for the production of green fuel.
Walid Gamal El-Din visited Shanghai, where he signed agreements with Chinese investors and businessmen, primarily focusing on the localization of various industries within the SCZONE's ports and regions
The factory stands as the region's first specialized facility for the manufacturing of wearable mobile phone accessories.
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