The Suez Canal Authority (SCA) is planning to establish an investment fund with EGP 2 billion in seed capital, Chairman of SCA Osama Rabie said in an interview with Asharq Bloomberg.

This fund aims at contributing to the economic sustainable development of facilities at the SCA in accordance with the highest international standards.

The Egyptian Cabinet previously approved a draft law regarding the establishment of a fund, under the name of “The SCA Fund” in the governorate of Ismailia

It is worth noting that Rabie previously announced that the SCA generated revenues, excluding navigation services, of $544.7 million in January 2022.
Source: Arab Finance Brokerage Company