Egypt will sign seven new Memoranda of Understanding (MoUs) on green hydrogen production in the Suez Canal Economic Zone with international companies and alliances, announced the Egyptian Cabinet in a statement.
The signing ceremony was attended by Prime Minister Moustafa Madbouly, the statement added.
Egyptian President Abdel Fattah El-Sisi has directed the government to maximize the use of renewable energy through green hydrogen projects, said Madbouly in the ceremony.
The Suez Canal Economic Zone sought to cooperate with the Indian side in the field of green hydrogen, in which it has made remarkable progress by signing several memoranda of understanding. Some of these are expected to enter into force in conjunction with the COP27 climate summit in Sharm El-Sheikh set to be held in November 2022.
Egypt equally targets to produce green methanol, and green ammonia, specifically as ship fuels, in light of the special location of Egypt that comes among the other qualifications that enable it to stand out in such fields.
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On June 21, 2022, the General Authority for Free Zones and Investment (GAFI) hosted the signing of 14 agreements worth $7.7 billion between the Egyptian and Saudi sides in the sectors of infrastructure, logistics, port management, food industries, pharmaceuticals, traditional energy, renewable energy, e-payment, digital financial, and information solutions.
Source: Egypt today
