The head of the General Authority for the Suez Canal Economic Zone, Walid Gamal El-Din, revealed that the zone's revenues for the fiscal year 2023-2024 reached 8.245 billion Egyptian pounds, of which 72% is denominated in dollars. This was announced during his meeting with Egyptian Prime Minister Mostafa Madbouly, where he reviewed the fiscal year's results and updates regarding the economic zone.
Gamal El-Din explained that the revenues include the ports of Sokhna, East and West Port Said, Adabiya, Arish, and Tour, as well as usufruct rights, investments, and desalination plants. He noted that revenues surged to approximately 8.5 billion Egyptian pounds by the end of the last fiscal year, compared to 2.76 billion Egyptian pounds in 2016-2017, marking an increase of 205%.
He added that contracts in the industrial zones amounted to 5.116 billion dollars for 218 projects, of which 98 projects, costing 2.225 billion dollars, received final approval, while preliminary approval was granted to 120 projects costing 2.891 billion dollars. He also mentioned that port projects within the economic zone totaled 7 projects with a cost of 1.359 billion dollars during the last fiscal year.
