Suez Canal Economic Zone (SCZONE) has signed six memoranda of understanding for US$10 billion worth of investments.
The amount will go to green hydrogen and green ammonia projects with large international companies and consortiums, so as to set up industrial facilities and complexes in the Sokhna area for the production and use of green fuels for ship refueling or export to foreign markets.
SCZONE has set itself the goal of becoming a leading regional hub in the green hydrogen industries, at a time when the market is in a phase of transformation into clean energy uses.
SCZONE also aims to localise this type of industry in its integrated zones in Sokhna and East Port Said.
The MoUs were signed with the Norwegian company Scatec, the Abu Dhabi Future Energy Alliance (Masdar of the UAE), Hassan Allam Utilities, the French Total Eren, the Egyptian Enara Capital, Maersk, the French EDF Renewables , the Egyptian Zero-Waste, and the UAE’s AMEA Power.
