{"id":576991,"date":"2022-11-06T04:00:29","date_gmt":"2022-11-06T04:00:29","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/06\/sczone-might-be-getting-an-investment-arm\/"},"modified":"2022-11-06T04:00:29","modified_gmt":"2022-11-06T04:00:29","slug":"sczone-might-be-getting-an-investment-arm","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/06\/sczone-might-be-getting-an-investment-arm\/","title":{"rendered":"SCZone might be getting an investment arm"},"content":{"rendered":"

SCZone to get investment arm?<\/strong> The Suez Canal Economic Zone (SCZone) plans to establish an investment company to channel finance into projects being established in the zone, SCZone head Walid Gamal El Din said<\/a> Saturday, without providing further information.<\/p>\n

This isn\u2019t the same thing as the Suez Canal Authority\u2019s new fund:<\/strong> Ministers in July approved plans<\/a> to allow the Suez Canal Authority (SCA) to set up a EGP 10 bn investment fund<\/a>. Neither the government or the SCA has disclosed how this money will be used, saying only that it will be deployed to support the authority\u2019s economic development.<\/p>\n

This is part of a package of measures designed to boost FDI inflows<\/strong> that was approved by the SCZone board yesterday. Among them: New investment incentives and an SCZone investors\u2019 association, the statement said, without disclosing details. The board also discussed ambitions to establish the zone as an \u201coffshore global financial center.\u201d<\/p>\n

A green energy hub:<\/strong> The board also discussed its strategy to turn the SCZone into a regional hub for clean energy such as green hydrogen and green ammonia. The authority is expected to sign a number of agreements with international companies to establish green hydrogen and ammonia plants at the COP27 climate summit this month. Initial agreements worth some USD 33 bn have been signed this year, the most recent of which was with Maersk for a huge USD 15 bn facility<\/a> capable of producing 3 mn tons of fuel a year.<\/p>\n","protected":false},"excerpt":{"rendered":"

SCZone to get investment arm? The Suez Canal Economic Zone (SCZone) plans to establish an investment company to channel finance into projects being established in the zone, SCZone head Walid Gamal El Din said Saturday, without providing further information. This isn\u2019t the same thing as the Suez Canal Authority\u2019s new fund: Ministers in July approved […]<\/p>\n","protected":false},"author":1,"featured_media":576992,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8996],"tags":[93,72,254,125,151,7103,416],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-576991","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-suez-canal","tag-energy","tag-enterpriseam","tag-green-hydrogen","tag-investment-watch","tag-renewables","tag-suez-canal","tag-suez-canal-economic-zone","wpautop","entry"],"acf":{"mongo_id":"26465b86-b938-46e3-a5e1-e5f157b9b72d","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/11\/91.jpg","photo_position":"above","related_issue":[576980],"teaser":"","voice_url":""},"yoast_head":"\nSCZone might be getting an investment arm - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/06\/sczone-might-be-getting-an-investment-arm\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SCZone might be getting an investment arm\" \/>\n<meta property=\"og:description\" content=\"SCZone to get investment arm? The Suez Canal Economic Zone (SCZone) plans to establish an investment company to channel finance into projects being established in the zone, SCZone head Walid Gamal El Din said Saturday, without providing further information. 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The SCZone is also in talks with shipping lines CMA and PSA to operate in\u2026","rel":"","context":"In "Infrastructure"","block_context":{"text":"Infrastructure","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/infrastructure\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":647082,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/05\/02\/mamish-appointed-to-head-sczone-hussein-el-refaie-appointed-as-president-of-suez-canal-bank\/","url_meta":{"origin":576991,"position":2},"title":"Mamish appointed to head SCZone; Hussein El Refaie appointed as president of Suez Canal Bank","author":"enterpriseam admin","date":"2 May 2017","format":false,"excerpt":"MOVES- President Abdel Fattah El Sisi appointed head of the Suez Canal Authority Mohab Mamish as the head of the Suez Canal Economic Zone (SCZone). 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