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Suez Canal Economic Zone Attracts 127 Projects Worth $2.8 Billion in 9 Months

Egyptian Prime Minister Mostafa Madbouly meets with head of the Suez Canal Economic Zone Walid Gamal El-Din. (Asharq Al-Awsat)
Egyptian Prime Minister Mostafa Madbouly meets with head of the Suez Canal Economic Zone Walid Gamal El-Din. (Asharq Al-Awsat)
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Suez Canal Economic Zone Attracts 127 Projects Worth $2.8 Billion in 9 Months

Egyptian Prime Minister Mostafa Madbouly meets with head of the Suez Canal Economic Zone Walid Gamal El-Din. (Asharq Al-Awsat)
Egyptian Prime Minister Mostafa Madbouly meets with head of the Suez Canal Economic Zone Walid Gamal El-Din. (Asharq Al-Awsat)

Chairman of the Suez Canal Economic Zone (SCZONE) Walid Gamal El-Din said that 127 projects worth around $2.8 billion were secured during the period between July 1, 2023 and March 21, 2024.

He added that 61 projects received final approvals, with a foreign investment rate of 49 percent, while 66 projects have been granted initial approval during the same period, with foreign investments accounting for 39% of the total.

The completion of these projects is expected to generate over 22,000 direct and indirect job opportunities, Gamal El-Din underlined, noting that from January 2024 to the present, 37 diverse projects have been contracted at an investment cost of $894 million.

The chairman unveiled these figures in a statement following a meeting with Egypt’s Prime Minister Mostafa Madbouly.

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Emirates First 'Airbus A350' Enters Commercial Service

Photo by WAM
Photo by WAM
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Emirates First 'Airbus A350' Enters Commercial Service

Photo by WAM
Photo by WAM

Emirates marked a significant milestone on Friday as its first Airbus A350 entered commercial service, operating its inaugural flight from Dubai to Edinburgh.

The aircraft, featuring Emirates' latest cabin products, is the first of 65 A350s joining the airline's fleet over the coming years, WAM reported.

Emirates has configured its A350 to provide three cabin classes, accommodating 312 passengers in 32 next-generation Business Class lie-flat seats, 21 Premium Economy seats, and 259 Economy Class seats.

In the coming months, Emirates will operate its Airbus A350 to eight more global destinations: Mumbai, Ahmedabad, Kuwait, Bahrain, Colombo, Lyon, Muscat, and Bologna.