Egyptian Prime Minister witnesses the signing of 7 MoUs for green fuel production in SCZONE
Dr. Mostafa Madbouly, Egyptian Prime Minister, witnessed today, at the government headquarters in the New Administrative Capital, the signing ceremony of 7 MoUs on the start of studies on green hydrogen production projects n Suez Canal Economic Zone, between the Ministry of Electricity and Renewable Energy, represented by the New and Renewable Energy Development, the Egyptian Electricity Transmission Company, the Sovereign Fund of Egypt, the General Authority of the Suez Canal Economic Zone, and consortia of international and local companies.
The MoUs were signed by Dr. Mohamed El Khayat, CEO of the New and Renewable Energy Authority, Mr. Walied Gamal El-Dien, Chairman of SCZONE, Mr. Ayman Soliman, Executive Director of the Sovereign Fund of Egypt, Eng. Salah Ezzat, Vice Chairman of the Board of Directors of the Egyptian Electricity Transmission Company.
“The MoUs signed today reflect Egypt’s efforts to attract more local and foreign direct investments, especially in the field of new and renewable energy production, and to seek to position Egypt as the regional center for the green fuel production. Also to maximize the use of our comparative advantages, represented in the availability of vast areas of land with strong sources of renewable energy from wind and sunshine, as well as Egypt’s distinguished geographical location as a center for the world and easy access from it to Europe benefitting from its sea ports.” Egyptian Prime Minister stated
The signed MoUs include a number of international and local consortiums and companies, including: (Saudi Arabia’s Acwa Power, Benchmark’s consortium, the Holding Company for Chemical Industries, China’s China Energy, Germany’s DAI, India’s OCIOR ENERGY, VoltaLia – TAQA, and Britain’s British Petroleum).
Mr. Waleid Gamal El-Dien, Chairman of SCZONE, declared: “The integration between the industrial zones and the affiliated ports gave the economic zone a competitive advantage that made it one of the most important global destinations and a regional center for green fuel industries, as well as its infrastructure and network of facilities enjoyed by the Sokhna and East Port Said industrial zones, which are required to complete giant green hydrogen projects, in addition to energy supplies from outside the region in coordination and cooperation with the Ministry of Electricity.”
It is noteworthy that the signing of the MoUs today is a continuation of the signing of 16 previous MoUs 9 of which were converted into framework agreements during COP27, and it is expected that the implementation of feasibility studies for the projects will be completed soon.
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