Suez Canal Economic Zone (SCZone) is to finalise its clean energy contracts and consortiums in November, coinciding with COP27 in Egypt.
Chairman Yehia Zaki made the announcement during his speech at the European Bank for Reconstruction and Development (EBRD) session held in London.
The previously announced agreements were valued at around $10 billion and aim to support SCZone’s efforts towards the transition to a green economy.
Under the agreements, new industrial facilities and complexes in Sokhna zone will be established to produce green fuel and use it for ship bunkering purposes or export to foreign markets.
© SCZone
“The green hydrogen and green ammonia projects investments are expected to be more than $10 billion and the production capacity of green fuels expected to be more than 5 million tons annually, as SCZONE is actively coordinating with the…