Prime Minister Mostafa Madbouly met on Monday with Yehia Zaki, the Chairperson of the Suez Canal Economic Zone (SCZone), to review global offers for green hydrogen projects in the Suez Canal Economic Zone (SCZone).
Madbouly confirmed the Egyptian state’s keenness to attract many investments to the SCZone, especially clean energy projects.
This requires intensifying efforts to optimise the strategic and vital location of the Suez Canal hub, which seeks to become a global logistics and economic centre, particularly in green hydrogen projects.
During the meeting, Zaki said that the region is targeting transitioning to a green economy and its various industrial applications, such as the green hydrogen industry, which is one of the most important sources of clean energy globally, and which attracts international investors.
He also pointed out that the zone offers unprecedented opportunities to raise the channel’s competitiveness and turn it into a global hub for green fuel ship supply, especially since the region has received a number of global offers for green hydrogen projects.
In light of this, Zaki reviewed the offers submitted to the zone for the establishment of green hydrogen projects, which included several companies specialised in this field.
Among these was the first project for the production of green ammonia within the industrial zone of Ain Sokhna, which is affiliated to the zone through a global alliance and the Egyptian Sovereign Fund.
The economic zone has also received several other initial offers for green hydrogen projects within its scope; whether in the Sokhna integrated area or east of Port Said.
He also pointed out that the first project for ammonia production between a global alliance and Egypt’s sovereign fund is being implemented through a new industrial complex being built on the land of the Suez Industrial Development Company.
The project will rely on renewable energy produced from wind power outside of the zone.
Its launch will coincide with Egypt’s hosting of the United Nations’ Conference of Parties on Climate Change (COP 27) this November, which is a good opportunity to announce the actual beginning of green hydrogen projects in Egypt in general and in the economic region in particular, he said.
Zaki also addressed the requirements for the implementation of the projects submitted, the initial estimates for the production of green fuel through them, as well as the work opportunities that are expected to be provided, and other technical and financial feasibility studies of the offers submitted, which are currently being studied.