24 Japanese companies express interest in investing in SCZONE

Daily News Egypt
4 Min Read

Walid Gamal El-Din, Chairperson of the Suez Canal Economic Zone (SCZONE), met with a business delegation of Japanese companies working in the fields of renewable energy, green fuels, and various other industries, led by the Japanese External Trade Organization (JETRO). The delegation participated in a meeting organized by the SCZONE to discuss the potential of this promising sector. The meeting was attended by representatives of the Egypt-Japanese Business Council, Japan’s New Energy and Industrial Technology Development Organization (NEDO), the Japanese International Cooperation Agency (JICA), and the Japanese ambassador in Cairo. Representatives from companies that had signed framework agreements or memorandums of understanding with the SCZONE to establish green fuel projects within the zone were also present.

The meeting explored cooperation between JETRO and SCZONE, as well as ways to enhance investment in the industrial sectors targeted by SCZONE within its ports and regions and attract Japanese investments to them. The meeting also discussed cooperation in green energy projects between the two sides, and supporting small enterprises and startups.

The SCZONE chairperson welcomed the Japanese delegation and the attendees from the green fuel companies, and expressed his hopes for further cooperation with Japanese companies in the green fuel sector and the related industries.

Gamal El-Din gave a presentation on the SCZONE’s efforts in the green fuel sector, highlighting the progress made to activate the memoranda of understanding (MoUs) between the SCZONE and alliances of international companies, as well as showcasing the complementary industries to the green hydrogen projects that the SCZONE is working to establish, such as the water desalination plant in Sokhna, the service corridor linking the lands allocated for green hydrogen and the port of Sokhna, and the construction of the liquid bulk dock in the port of Sokhna.

Kazuya Nakajo, Executive Vice President of JETRO, explained that Egypt, the host of COP27 in November, has all the elements to promote the green transition, with its renewable energy sources of solar and wind energy, and its infrastructure. He expressed JETRO’s constant keenness to enhance cooperation with SCZONE as an Egyptian organization working to support investment in various sectors, especially the green fuel sector.

Representatives of Arab Energy, Global Africa, Mediterranean Energy Partners, SCATEC, Maersk, BP, Fortescue, Zero West, ACWA Power, Total Erin Alliance, Enara Group, and the Indian company Okure Energy gave presentations on the projects to be established within the SCZONE, investment volume, production capacity, job opportunities, and some other technical details.

The representatives of the Japanese business delegation companies, which amounted to 24 companies and institutions operating in various fields such as engineering industries, facilities, financial services, maritime transport, consulting, and some governmental organizations, also gave presentations on their interest in investing in the SCZONE in these sectors and future cooperation between the two parties.

After the meeting, the delegation visited the Egypt Hydrogen Factory, the first project in Africa to produce green fuel, which was inaugurated during the COP27 in Egypt in November 2022. Then, the delegation headed to Sokhna Port to inspect the work on the new berths in the port.

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