Suez Canal Economic Zone Plans $3 Billion Investment

Egypt's Suez Canal Economic Zone (SCEZ) is set to invest an additional $3 billion in infrastructure to attract new investors amid regional challenges. The zone has successfully pulled in over $6.3 billion across 164 projects over the past two years, despite a nearly $3 billion drop in canal revenues due to attacks on Red Sea shipping. Chairman Waleid Gamal El-Dein highlighted ongoing developments, including new cargo terminals and a desalination plant aimed at supporting the green hydrogen industry. The first phase of this plant will have a capacity of 250,000 cubic meters per day and is expected to be completed in two to four years. The SCEZ's strategic positioning and tax advantages continue to draw interest, indicating a potential for growth even amidst political instability in the region. El-Dein remains optimistic, stating that the zone has already attracted nearly $1 billion within the first four months of the current fiscal year, which began in July.