Suez Canal Economic Zone revenues hit all-time high of EGP 6 bln in FY2022/2023

Ahram Online , Thursday 14 Sep 2023

Egypt's Suez Canal Economic Zone (SCZone) revenues hit a record high of EGP 6.065 billion in FY2022/2023, which ended in June, the SCZone said in a statement on Thursday.

Suez Canal Economic Zone
Suez Canal Economic Zone. Photo courtesy of the SCZone Facebook page


The new record represents a 78 percent increase in revenues compared to EGP 3.490 billion in the previous fiscal year, according to the statement.

The SCZone earned a profit of EGP 4.077 billion last fiscal year, up from FY2021/2022's EGP 2.214 billion.

The new figures were reported by the Chairman of the SCZone Board of Directors Walid Gamal El-Din during a meeting today with Egypt's ministers of Planning, International Cooperation, Transport, Trade and Industry, and others.

The canal's profits reflect the success of recent SCZone initiatives, such as providing ship bunkering services, maximizing revenues from the canal's industrial zones, and signing contracts to develop affiliated seaports.

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