On the fringes of the COP27 summit in Sharm el-Sheikh in November 2022, Egypt’s Suez Canal Economic Zone (SCZone) aims to finalize $10 billion in green hydrogen and ammonia projects, according to the Zone’s Chairman.
Yehia Zaki indicated that final agreements with enterprises and consortiums to create green fuel production units in the Sokhna Industrial Zone will be completed at the European Bank for Reconstruction and Development (EBRD) headquarters in London.
“The green hydrogen and ammonia projects are expected to cost more than $10 billion, with a total production capacity of more than five million tonnes annually,” he said, adding that SCZOne’s unique geographic location along the Suez Canal’s banks qualifies it to serve as a logistics hub for green fuel bunkering as well as exporting to Europe, the world’s largest market for clean energy products.
Masdar, the UAE-based renewable energy business, and Hassan Allam Utilities, Egypt’s investment and development arm, launched green hydrogen production plants near Sokhna and on the Mediterranean coast in April.
Egypt had previously signed preliminary agreements with Scatec of Norway, Maersk of Denmark, Total and EDF of France, AMEA Power of the UAE, Fortescue Future Industries of Australia, DEME Group of Belgium, and H2-Industries of the United States to establish green hydrogen and ammonia projects in the country.
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