Arab Finance: The General Authority for the Suez Canal Economic Zone (SCZOne) has denied reports claiming it plans to borrow EGP 19 billion over 13 years to complete port development projects, as per a statement.

The authority emphasized that no decisions or actions have been taken regarding such a loan.

It also clarified that funding for port development comes from increasing revenues from industrial zones and agreements with strategic partners, aligning with its strategy to enhance maritime ports and integrate them with industrial areas.

Additionally, it urged citizens to rely on official communication channels for accurate information and avoid spreading false news.

Madbouly follows up on Ras El Hikma City development Updated 9/11/2024 4:24:00 AM

ACWA Power to complete 1st phase of green hydrogen project by late 2028 Updated 9/9/2024 7:39:00 AM

Shandong Tianyi Chemical inks $110M deal to establish bromine extraction complex in SCZone Updated 9/8/2024 4:38:00 AM

SCZone pens contracts for new projects in chemicals, food, renewable energy Updated 9/8/2024 4:29:00 AM

Egypt to host 2025 Pan African Zoo Conference for 1st time Updated 9/4/2024 1:53:00 PM