SCZONE Revenues Rise 32% in H1 FY2024/25 to Reach USD 112.8 Million

The Suez Canal Economic Zone (SCZONE) reported net revenues of EGP 5.67 billion in the first half of fiscal year 2024/25, marking a 32% increase from EGP 4.3 billion during the same period in 2024. Revenues exceeded budget expectations by 8%, surpassing the projected EGP 5.2 billion. Port operations played a crucial role in this growth, contributing 77% of total revenues.

SCZONE attracted 66 new projects across various industries, securing USD 1.755 billion in investments and creating 1,600 jobs. The board approved four additional projects in textiles, ready-made garments and metal industries, with a total investment of USD 1.84 billion. Among these, the Eroglu Knitting project, part of Türkiye-based Eroglu Global Holding Group, was approved to manufacture ready-made garments. The Eroglu Garments factory will span 64,000 square metres, invest over USD 40 million, and employ 2,000 workers by March 2025. The full Eroglu project, covering 274,000 square metres, will require an investment of USD 180 million, create 5,000 direct jobs, and export 70% of its production.

Additional approvals include a home textiles manufacturing project by Chinese Shanghai Honor Company, which will be located in the West Qantara Industrial Zone. With a 100% export rate, the factory will receive USD 3.5 million in investment and generate 300 jobs. Another investment from Chinese Jiangsu Guotai Company will establish a factory with a USD 10 million budget, creating 2,000 direct jobs and dedicating all production to exports. These initiatives aim to strengthen the local market, reduce dependency on imports, and expand regional and global exports.

The SCZONE board also approved a USD 1.65 billion project by Shen Feng Tools Company to establish the largest integrated industrial complex for metal industries in the Sokhna Industrial Zone. The complex will be developed in two phases, supporting the automotive and home appliances sectors while incorporating research and waste recycling centres. The first phase, requiring USD 813 million in investments, will span 2 million square metres and create 4,419 jobs. The second phase will cover 1.75 million square metres, with an USD 835 million investment and 3,575 direct jobs.