The board reviewed several important topics, most notably a review of financial indicators and the Authority's promotional position through the end of the third quarter of the current fiscal year 2024-2025. It also approved five new projects in Qantara West and East Ismailia.
The Board of Directors of the SCZone
discussed the most prominent features of the Authority's financial position for
the current fiscal year 2024-2025, from July 1 to the end of March 2025. The
Authority achieved total revenues of EGP 8.6 billion, a 40% increase over the
same period of the previous fiscal year, when they amounted to EGP 6.1 billion.
Revenue growth over budget expectations for the same period was approximately
10%. Revenues from other activities witnessed a significant increase as a
percentage of the Authority's total revenues until March 25, reaching 17%,
compared to an average share of only 8% for all other activities
combined—excluding ports—over the previous five years. This reflects the
success of the Authority's promotional efforts over the past period, which in
turn contributed to maximizing the benefits of the industrial and logistics
zones, infrastructure, and facilities developed by the Authority.
Gamal El-Din also reviewed the status of the
Authority's promotional efforts over the past 33 months, which have succeeded
in attracting actual contracts from various countries around the world for its
ports and industrial zones, whether directly with the Authority or through an
industrial developer. This represents a total of 272 projects with total
investments of $8.3 billion, providing 40,200 job opportunities. Of these
projects, 262 were for industrial zones, with a total investment cost of
approximately $6.8 billion. These projects have provided employment
opportunities for more than 40,000 people. He emphasized the Authority's
success in actually contracting 10 projects at its ports, with investments
amounting to $1.51 billion. He also noted that it is important to note that
approximately 130 of these projects are currently operational.
Many of these projects have already been inaugurated
during the recent period, in the presence of Prime Minister Dr. Moustafa
Madbouly. Most of the projects currently under construction are expected to
open during 2025, which represents the "Year of Openings."
As part of developing cooperation between the SCZone and
industrial developers, and as a result of the Authority's ongoing efforts to
support all state institutions and the private sector to improve the business climate,
and reflecting the strategic partnership between the SCZone and China's TEDA,
the Authority's Board of Directors approved an agreement to establish and
manage an integrated industrial complex with services and facilities on an area
of 2.86 square kilometers. This represents a new expansion for the industrial
developer TEDA-Egypt in two phases over eight years. Investment costs for the
infrastructure and facilities projects for these expansions are expected to
reach approximately $100 million approximately EGP 5 billion.
The Board of Directors of the SCZone approved new projects in the Qantara West and Technology Valley zones affiliated with the Authority in several targeted sectors, with a total investment of $49.3 million, exceeding EGP 2.5 billion, and a total area of 177,800 square meters. These five projects will provide more than 3,250 job opportunities.