Egypt's Suez Canal Economic Zone to establish own investment company

According to the statement, the new company aims to strategically manage SCZone's current and future investments.  

The company also aims to operate the basic facilities within the economic zone's scope in partnership with international and local private investment.

Furthermore, the SCZone Istithmar Company will seek to achieve the development objectives of the zone by attracting local and foreign investments in vital sectors.

In June, the board of directors of SCZone approved a series of projects in manufacturing, green hydrogen, and water desalination, all of which will be carried out with international partners.

The SCZone's board also approved 46 projects with $ 3.6 billion worth of investments between July 2022 and May 2023.

The Egyptian government authorized in June the creation of the Suez Canal Holding Company for Industries and Naval Services and Investments, with headquarters in Ismailia.