Egyptian Prime Minister Mostafa Madbouly announced on Saturday that industrial projects at the Qantara West Zone are expected to generate between $3 billion and $4 billion in annual export revenues once they become fully operational.

 

Speaking at a press conference following the inauguration of several projects in the area — part of the Suez Canal Economic Zone (SCZone) — Madbouly highlighted that the government has invested around EGP15 billion ($485 million) in infrastructure and equipment to attract investors, a Wam news agency report said.

 

“Without state investment in infrastructure and facilities, no private investments would be possible,” he said, noting that 40 projects worth a combined $1 billion have already been established during the zone’s first phase.