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Egypt's Suez Canal financial district appeals USD1.85 Billion investments over 6 months
(MENAFN) Egypt's General Authority of the Suez Canal Economic Zone (SCZone) stated on Tuesday that it established funds that cost USD1.85 billion in the last six months.
Waleid Gamal El-Dein, chairman of the SCZone General Authority, mentioned in an announcement from the Egyptian administration that 89 investment plans have secured both ultimate and initial approval from SCZone sine the first of July.
Including them, 47 projects got ultimate endorsement with an overall capital of USD941 million, while 42 projects got initial endorsement with a predictable overall capital of USD908 million, El-Dein stated.
Nine Chinese projects were included in those that obtained ultimate endorsements, he mentioned, additionally the Chinese projects address regions like carpet manufacturing, textile production, manufacturing household goods, founding a private customs warehouse, ready-made clothing, and accessories.
The projects that got initial endorsements contain six projects for Chinese firms in the areas of industrial electrical utilizations, manufacturing household goods and cooking utensils, removing and unravelling minerals from black sand, and developing different textiles.
Found in August 2015, the SCZone, extending over an area of 461 square km among the banks of the Suez Canal, hosts six seaports and four expansion regions.
The SCZone purposes to appeal regional and international investors by delivering logistic and manufacturing facilities in tact with international standards.
In accordance to the General Authority of SCZone, the district appealed 2.5 billion US dollars of international investment from July last year to May this year.
Waleid Gamal El-Dein, chairman of the SCZone General Authority, mentioned in an announcement from the Egyptian administration that 89 investment plans have secured both ultimate and initial approval from SCZone sine the first of July.
Including them, 47 projects got ultimate endorsement with an overall capital of USD941 million, while 42 projects got initial endorsement with a predictable overall capital of USD908 million, El-Dein stated.
Nine Chinese projects were included in those that obtained ultimate endorsements, he mentioned, additionally the Chinese projects address regions like carpet manufacturing, textile production, manufacturing household goods, founding a private customs warehouse, ready-made clothing, and accessories.
The projects that got initial endorsements contain six projects for Chinese firms in the areas of industrial electrical utilizations, manufacturing household goods and cooking utensils, removing and unravelling minerals from black sand, and developing different textiles.
Found in August 2015, the SCZone, extending over an area of 461 square km among the banks of the Suez Canal, hosts six seaports and four expansion regions.
The SCZone purposes to appeal regional and international investors by delivering logistic and manufacturing facilities in tact with international standards.
In accordance to the General Authority of SCZone, the district appealed 2.5 billion US dollars of international investment from July last year to May this year.
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