Egypt's Suez Canal Economic Zone (SCZone) has secured contracts worth $8.6bn for 297 industrial, service, logistics, and port projects since the start of the 2022/2023 fiscal year, its chairman said on Monday. In a meeting with Prime Minister Mostafa Madbouly, SCZone Chairman Waleid Gamal El-Dein said the authority's promotional efforts had attracted $7.09bn in actual contracts for 286 industrial, service, and logistics projects up to June 2025. An additional $1.5bn in contracts were signed for 11 seaport projects. Gamal El-Dein also reported on the results of his recent promotional visit to several Chinese provinces from July 21-25. He said the visit resulted in the signing of six contracts with various investors for new industrial projects in the clothing and textile sector, valued at $117.5m. The SCZone chairman reviewed the authority's financial position, noting that actual revenues for the 2024/2025 fiscal year reached EGP 11.425bn, with a surplus of EGP 8.487bn for the same period. He also detailed the progress of various projects within the zone. In the Sokhna industrial area, the authority has attracted international companies for projects in new energy, electronics, pharmaceuticals, and automotive components. In the Qantara West industrial zone, 31 projects have been implemented on an area of 2 million square metres, with a total investment cost of $799m, providing 45,000 jobs. Gamal El-Dein also discussed investments in the East Ismailia industrial zone (Technology Valley), which aims to create a new urban community based on high-tech industries. The authority is targeting projects in technology, semiconductors, electronic devices, solar cells, and vocational training centres. He added that the SCZone has successfully attracted new foreign investments of $43m in the silica mining and modern building materials industries in this area.
