SCZone's revenues jump 54% YoY in 8 months

Updated 3/31/2024 6:08:00 AM
SCZone's revenues jump 54% YoY in 8 months

Arab Finance: The Suez Canal Economic Zone's (SCZone) revenues has climbed 54% year on year (YoY) during the first eight months of the current fiscal year (FY) 2023/2024, amounting to EGP 5.3 billion, compared to EGP 3.45 billion in the same period a FY earlier, according to a statement.

The authority also achieved net profits worth EGP 3.74 billion, rising by 57% YoY from EGP 2.38 billion.

During the July 2023-February 2024 period, the SCZone has attracted 125 new projects in various sectors, with a total investment of $2.56 billion, 60 projects of which received final approvals with investments worth $1.13 billion and 65 projects obtained preliminary approvals with anticipated investments of over $1.43 billion.

These projects are set to offer more than 21,000 direct and indirect jobs.

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