Latest news with #WaleidGamalElDien
Zawya
3 days ago
- Business
- Zawya
Egypt: SCZONE inaugurates Beltone Leasing, Factoring branch at Sokhna headquarters
Egypt - The General Authority of the Suez Canal Economic Zone (SCZONE) has officially inaugurated a new branch of Beltone Leasing and Factoring at its headquarters in the Sokhna Industrial Zone. The ceremony was attended by Ahmed Saad, CEO of SCZONE, and Amir Ghannam, Deputy Head of Non-Banking Financial Institutions (NBFIs) for Leasing, Factoring, and Consumer Finance. Beltone Leasing and Factoring, a wholly owned subsidiary of Beltone Holding, received approval from the Financial Regulatory Authority (FRA) to establish operations at SCZONE, making it the first non-banking financial institution to do so. This strategic move underscores the growing role of SCZONE as a hub for industrial investment, international trade, and regional logistics. Waleid Gamal El-Dien, Chairperson of SCZONE, described the inauguration as a significant step toward enhancing the zone's investment environment. 'The opening of Beltone Leasing and Factoring's branch within our Sokhna headquarters marks a qualitative leap in providing specialized financial services that facilitate effective financing and investment solutions,' he said. 'It supports our broader strategy to build an integrated financial infrastructure that meets the expanding needs of industrial and logistics activities. SCZONE remains committed to attracting leading financial institutions to its industrial zones to reinforce a dynamic and supportive investment climate.' Amir Ghannam emphasized the broader economic impact of the new branch, noting: 'This step opens new avenues for financing industrial projects and supporting strategic export activities, thereby contributing to national economic development goals.' The launch of Beltone Leasing and Factoring's Sokhna branch is aligned with SCZONE's ongoing efforts to strengthen its service ecosystem for investors. These include the implementation of a one-stop-shop service, the digital transformation of investor services, and the presence of banking institutions and integrated logistical and industrial support. Together, these initiatives aim to streamline procedures, enhance operational efficiency, and align SCZONE's services with international best practices in investment facilitation.
Zawya
12-05-2025
- Business
- Zawya
Egypt: Madbouly inaugurates $19mln dry bulk wheat terminal in West Port Said
Arab Finance: Prime Minister Moustafa Madbouly has inaugurated an EGP 1 billion dry bulk wheat terminal in West Port Said Port, according to an official statement. The terminal has a storage capacity of 100,000 tons and an unloading capacity of 1,200 tons per hour. Sherif Farouk, Minister of Supply and Internal Trade, stated that the project represents a qualitative addition to Egypt's silos system, bringing the number of port silos designated for subsidized wheat to six. There are two port silos in Alexandria Port, two in Damietta Port, one in Safaga Port, and one in West Port Said Port. Total storage capacity stands at 530,000 tons, with an annual handling capacity of 6.4 million tons. On his part, Waleid Gamal El-Dien, Chairman of the General Authority of the Suez Canal Economic Zone (SCZone), said the project marks a comprehensive model for integrating logistics and food services within Egyptian ports. Gamal El-Dien highlighted that the dry bulk terminal covers an area of 15,251 square meters and includes eight storage cells, with a total storage capacity of 100,000 tons. The project aims to receive ships with large loads exceeding 65,000 tons. The terminal is expected to receive between 23 and 36 ships annually, securing around 275 direct and indirect job opportunities. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
