SCZONE’s revenues surge 70% YoY in H1 FY2023/24: Egypt

In H1 of the current FY, the authority has granted approvals to 48 projects with total investments of $991 million

Staff Writer, Arab Finance

February 8, 2024

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The General Authority for Suez Canal Economic Zone (SCZONE) has garnered EGP 4.3 billion in revenues during the first half (H1) of the fiscal year (FY) 2023/2024, up 70% year on year (YoY) from EGP 2.6 billion, as per a statement by the authority.

During its meeting, the authority’s board has approved an estimated budget proposal of EGP 37.3 billion for the FY 2024/2025, including an investment budget of EGP 28.6 billion and a current budget of EGP 8.6 billion.

In H1 of the current FY, the authority has granted approvals to 48 projects with total investments of $991 million.

Moreover, another 42 projects worth $908 million in investments obtained initial approvals.

This is in addition to setting up 31 firms with issued capital of $28.6 million in H1 FY 2023/2024.

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