Egypt's Suez Canal Economic Zone (SCZONE) achieved record revenues of EGP 11.6bn ($242m) in fiscal year (FY) 2024/25, a 38% increase from the previous year, its chairperson said on Monday. The board of the SCZONE General Authority approved the final accounts for the past fiscal year, which showed net profits of EGP 8.6bn, a 51% increase from the FY 2023/24. SCZONE chairperson Walid Gamal El-Din also reviewed the authority's promotional activities. He said that in the past fiscal year, SCZONE signed final contracts for 129 projects with a total investment cost of $4.4bn, which are expected to create 31,202 direct jobs. In the first part of the new fiscal year, from July 1 to Sept. 14, 2025, the authority signed contracts for another 26 industrial and logistics projects in the Sokhna and Qantara West zones, with an investment cost of $1.85bn, creating 21,832 jobs. This brings the total number of projects signed in the last 14 months to 155, with a total investment of $6.3bn. Over the past 38 months, the SCZONE has attracted 334 projects in its ports and industrial zones, with total investment costs of $10.4bn, Gamal El-Din said. These projects have created about 100,000 direct jobs. The board also approved five new projects with a total investment of $155m, which are expected to create 5,100 direct jobs. Four of these projects are in the Qantara West zone, including a $22.6m Chinese factory for home textiles and clothing, an $8m Chinese ready-made garment factory, a $35.2m Pakistani garment factory, and an $85m Chinese factory for flooring and wall panels. The fifth project is an Egyptian-Turkish alliance to establish two customs deposit yards for storing, handling, and repairing containers in Qantara West and Sokhna, with an investment of $4.2m. The meeting was attended by the ministers of housing and investment, the governors of Port Said, Suez, and Ismailia, and other senior officials.
