SCZONE receives a delegation from the US Embassy and the US International Development Finance Corporation (DFC)

Mr. Waleid Gamal El-Dien, Chairman of the General Authority of the Suez Canal Economic Zone (SCZONE), received at SCZONE’s headquarters in Sokhna, a delegation of representatives from the US Embassy and the US International Development Finance Corporation (DFC), to discuss the possibility of cooperation in financing green fuel projects within SCZONE.

“SCZONE 2020-2025, Strategy enables it to become a model for international economic cooperation, which has led to the confidence of many international investments that have chosen it as a hub for their expansions in various markets due to its distinguished strategic location, the availability of energy sources, and trained technical labor with competitive costs. The strategic location of SCZONE and its affiliated ports on the Red Sea and the Mediterranean Sea supports global supply chains, which has made SCZONE’s ports cooperate with the largest port operators in the world.” Mr. Waleid Gamal El-Dien, Chairman of SCZONE declared.

“We are keen to cooperate with all development partners and international institutions to reduce the cost of production and operation to accelerate the pace of green fuel production, through cooperation to finance green fuel projects, agree on the necessary environmental and technical standards for them, and support the global energy transformation through the SCZONE capabilities and its distinguished location. The investment opportunities in the field of green fuel within SCZONE are diverse, starting with the production of green fuel, investment in complementary and feeding industries, investment in the infrastructure necessary to establish these projects, in addition to green bunkering services through the ports of Sokhna and East Port Said” Mr. Waleid Gamal El-Dien, Chairman of SCZONE added.

On the other hand, the delegation members expressed their admiration for SCZONE’s achievements and pioneering steps in light of the current challenges. Representatives of the US International Development Finance Corporation (DFC) also expressed their interest in cooperating with companies expected to establish their projects within SCZONE in the field of green fuel and providing the technical support and financial services offered by the institution for these projects, especially since the institution is interested in financing development projects in various countries.

The delegation made a scouting tour that included visiting the area allocated for green fuel production projects within the Sokhna Industrial Zone, the “Egypt Green Hydrogen” project, and the Sokhna Port, which is witnessing development work that qualifies it to be one of the most important pivotal ports on the Red Sea.