Chairman of the General Authority for the Suez Canal Economic Zone (SCZONE) Walid Gamal el Din said the authority considers offering new incentives to investors in green fuel projects, noting that a related study was presented to the cabinet for discussion.
Gamal el Din made the comments on Tuesday 6/12/2022 during a meeting of the Parliament’s Defense and National Security Committee headed by MP Ahmed el Awadi, where he reviewed the SCZONE’s strategic plan, in addition to the existing and new projects in the zone, according to a statement released by the authority.
He added the authority targets to strengthen local manufacturing in 12 industrial sectors and three service sectors, notably the green fuel sector.
Gamal el Din stated the authority moves ahead with ship supply projects, in coordination with the ministries concerned.
He explained that 16 memorandums of understanding (MoUs) and nine framework agreements were signed to implement 9 projects out of 16 for the production of green fuel by mid 2026, adding the authority will ink 6 other memorandums of understanding with global companies in the coming days.
He pointed out that the authority erected solar power stations and sea water desalination plants, besides establishing liquid bulk stations inside ports to serve green fuel projects, in addition to converting industrial zones into integrated areas to include residential and entertainment services.
Source: State Information Service Egypt