The Suez Canal Economic Zone (SCZone) has taken a significant step towards establishing a new Green Hydrogen industrial complex in Egypt’s Integrated Sokhna area.
A previously signed Memorandum of Understanding (MoU) has now evolved into a comprehensive collaboration framework involving SCZone, the Sovereign Fund of Egypt for Investment and Development (TSFE), Egypt’s New and Renewable Energy Authority (NREA), and the Egyptian Electricity Transmission Company (EETC), with China Energy as the key partner.
The move aligns with SCZone’s strategic vision to promote green hydrogen projects and forge partnerships in the renewable energy sector. It also reflects Egypt’s commitment to renewable energy and the transition towards a greener economy. The comprehensive agreement signifies a significant milestone in advancing Egypt’s renewable energy goals.
During a promotional tour and discussions with Asian companies and investors, SCZone Chairman Gamal El-Din met with Assem Hanafi, Egypt’s ambassador to China, and officials from China Energy at their headquarters in Beijing. China Energy expressed enthusiasm for collaboration with SCZone, recognizing Egypt’s strategic position as a gateway for companies seeking to export to European and African markets. The finalization of the agreement is anticipated within the next two months.
Continuing their tour in Beijing, SCZone officials will explore opportunities for cooperation with Chinese companies across various industrial sectors. This signifies the zone’s proactive approach to attract investment and foster mutually beneficial partnerships.
In addition, Gamal El-Din delivered a speech at the Egyptian-Chinese Investment forum held at the Egyptian embassy in China, further highlighting the growing economic ties and potential for collaboration between the two countries.
This collaboration between SCZone and China Energy not only paves the way for the development of a new Green Hydrogen industrial complex but also signifies a positive step towards a more sustainable future for Egypt and the region. The project has the potential to create job opportunities, stimulate economic growth, and contribute to the country’s renewable energy targets.
