Suez Canal Economic Zone doubles revenues in 8 months
The revenues of the Suez Canal Economic Zone more than doubled in the fiscal year 2023-2024.
Suez Canal Economic Zone doubles revenues in 8 months
The Economics of Geography

Suez Canal Economic Zone doubles revenues in 8 months

Photo: AFP/Hiromi Uechi 
Eurasia 10/04/2024 17:04

The revenues of the Suez Canal Economic Zone more than doubled in the fiscal year 2023-2024.

The head of the General Authority of the Suez Canal Economic Zone Walid Gamal El-Din said that the authority achieved total revenues of EGP 5.3 billion (USD 111.93 million) during the fiscal year 2023-2024, an increase of 54 percent compared to the previous fiscal year until February 2023, during which the authority achieved total revenues of EGP 3.45 billion (USD 72 million). 

Gamal said in a statement following a meeting of the board of directors of the General Authority of the Suez Canal Economic Zone that the authority's net profit until February amounted to EGP 3.74 billion (USD 78.14 million), an increase of 57 percent from the profits of the same period last year.

The Board of Directors of the General Authority of the Suez Canal Economic Zone approved new projects being implemented in the next phase, led by the project of two electrical transformer stations in the integrated Sokhna area with a capacity of 350 megawatts, and the project of the Turkish company Oroglu for clothing in the Kantara West industrial area, as well as the approval of the authority's agreement with Orascom for industrial zones to develop an integrated industrial complex with an area of 3.3 million square meters.
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