SCZONE…..Everything You Need to Know About It
The Suez Canal Economic Zone (SCZONE) is a world-class free zone and trade hub located along the banks of the Suez Canal, specifically on the main trade route of international shipping lines near Sokhna port, one of the major ports in the Middle East region. It covers an area of 460.6 square kilometers.
SCZONE was established under the president’s decree no. 83 of 2002 to enhance investment opportunities in all economic sectors, benefit from foreign investment, develop industries and exporting to obtain hard currency, and develop high-tech industries. It provides an efficient, competitive, and eco-friendly environment attractive to light and medium industries and offers logistics services that stimulate economic activity in the region and create new job opportunities.
It is worth noting that SCZONE includes 6 ports, namely East and West Port Said Port, Al-Arish Port, Ain Sokhna Port, Al-Tor Port, and Adabyia Port, in addition to 4 industrial zones, namely East Port Said Industrial Zone, East Ismailia Industrial Zone, West Qantara Industrial Zone, and Sokhna Industrial Zone.
About the Cooperation Protocol
Mr. Waleid Gamal El-Dien, Chairman of the Suez Canal Economic Zone (SCZONE), signed a cooperation protocol with a consortium of Dutch companies led by the Dutch-Egyptian Co. for Business Development and Rotterdam City to enhance green fuel investments.
It is worth noting that this cooperation protocol was signed when Mr. Gamal El-Dien received a Dutch delegation of officials of the Embassy of the Kingdom of the Netherlands in Egypt, representatives of Rotterdam City, and officials of the consortium who are working in the Field of Energy and Green Hydrogen at SCZONE’S Ain Sokhna headquarters.
What this Cooperation Protocol Includes? And What It Aims At?
This protocol includes the expansion of these companies’ business by investing more in SCZONE to establish green hydrogen production plants that will produce green fuels used for supplying all kinds of vehicles, in addition to transporting and exporting the production to European markets through dedicated pipelines.
It also aims at achieving Egypt’s vision of reducing carbon emissions and developing the green hydrogen and its derivatives, such as green fuel and ammonia.
The Main Reason Why this Protocol was Signed between the Two Parties
The main reason for signing this protocol lies in SCZONE’s participation in the Global Hydrogen Forum in Rotterdam City last May 2023, in coordination with the Netherlands Enterprise Agency and the Dutch Ministry of Economy.
During this forum, SCZONE’s Chairman met with the consortium’s representatives and held several meetings with representatives of companies working in energy and green fuel production. In addition, he undertook a field tour in the Port of Rotterdam to discuss prospects for cooperation between the port and SCZONE’s ports to make the most of the joint relations between the two countries, reaching the goals of the global transition towards green energy.
SCZONE Chairman’s Speech
During this meeting, SCZONE’s chairman briefed the unique incentives provided by Egypt through the zone as a major destination for producing green fuel in the Middle East and exporting it to Europe. He also mentioned the ports and regions of the Economic Zone have a role in trading green fuel through the Green Corridor, one of the green fuel delivery routes, after the completion of the manufacturing stages from the industrial facility and its storage operations, then transporting and exporting it to the port of Rotterdam in preparation for its arrival to all European markets.
The chairman also stressed the importance of exchanging joint experiences in developing the region’s ports through technical cooperation in digitization and mechanisms for boosting port’s trading volumes in cooperation with the Port of Rotterdam.
It is clear that Egypt exerted a great effort to enhance green fuel investments and reduce carbon emissions to achieve Egypt’s Vision 2030. If you want to know more about this cooperation protocol, click here.
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