The Suez Canal economy gets the first tranche of the 10 billion pounds loan next June

A responsible source confirmed that the Suez Canal Economic Authority is planned to obtain the first tranche of a loan worth 10 billion pounds by next June, which is prepared by a consortium of 4 banks for the benefit of the authority.

The source told Al-Youm Al-Sabea that the loan that the authority will receive is planned to be allocated to finance the infrastructure projects that the authority targets within the framework of its investment plan for the next five years, as a continuation of the efforts made by the authority to attract more investment opportunities in the targeted industrial sectors.

The Suez Canal Economic Authority adopts an ambitious strategy during the next five years "2020-2025" in order to establish an integrated society based on industry, maritime transport and logistical services to advance economic development in Egypt, and to be an export platform for global markets, especially Africa.

The economic zone has set strategic goals that focus on providing new investment opportunities in targeted industrial and marine sectors, localizing priority industries for the purpose of replacing imports, adopting the policy of integrated industrial complexes, in addition to preparing infrastructure in ports and industrial areas in accordance with international standards, and developing platforms for small and medium industries. Maximizing the region's role as a central and global logistical center in global supply chains, developing work systems in ports to attract investments and global shipping lines, taking advantage of the region's location and its ports to provide marine services and ship supply services, and establishing financial, commercial and service centers.

The list of services and industries targeted includes marine services, ship supplies, metal casting, building materials, engineering industries, and data centers, as well as logistics and agricultural manufacturing, solar panels, railroad cars, textiles, pharmaceutical products, active ingredient for pharmaceutical products, car tires, and materials. Chemical, and finally auto parts "electric batteries."