SCZONE Chairman Starts His Promotional Tour in Germany with Meeting KFW Bank Officials

Mr. Waleid Gamal El-Dien, Chairman of the General Authority of the Suez Canal Economic Zone (SCZONE), met with officials from the “Kreditanstalt für Wiederaufbau” KFW Bank in Frankfurt, during his promotional tour in Germany to demonstrate the available investment opportunities in the targeted sectors. The meeting touched on areas of common interest between the two sides, especially about the field of green energy, where the Chairman of SCZONE met with Mr. Sebastian Steiner, Head of Division of North Africa Energy, Ms. Alina Sennewald, Portfolio Manager, North Africa, Energy, and several technical experts at the bank. The meeting touched on the possibility of cooperation with The KfW IPEX Bank, which is fully owned by the German KfW Bank, and focuses on financing development and international projects.

” SCZONE includes 4 industrial zones equipped to receive all types of industries, and 6 seaports on the Mediterranean Sea and the Red Sea, equipped with world-class infrastructure. The integration strategy between ports and industrial and logistics zones provided a model to support supply chains and the movement of trade and industry. Thus, this readiness contributed to making SCZONE a center for green fuel industries, in addition to the strategic location and readiness of seaports that enabled them to provide ships’ bunkering services with fossil fuels and green fuels. SCZONE targeted 21 industrial and service sectors, such as food, pharmaceutical, and automotive industries.” Mr. Waleid Gamal El-Dien, Chairman of SCZONE declared.

“The most prominent aspects of cooperation between Germany and SCZONE is “Egypt Green Hydrogen” project, which is located in SCZONE’s Sokhna integrated industrial Zone and the winner of the H2Global pilot auction, which is an initiative funded by the German Federal Ministry for Economic Affairs and Climate Action, to supply quantities of renewable ammonia to the European Union.” Mr. Waleid Gamal El-Dien, Chairman of SCZONE added.