Egypt signed seven memoranda of understanding (MoUs) with foreign companies specializing in renewable energy production to establish industrial complexes for the production of green hydrogen in the Ain Sukhna industrial zone, with an expected investment volume of more than $30 billion.
An MoU was signed with the British Globaleq Company to establish a green hydrogen production plant on ten million square meters in the region, with an annual production volume of two million tons and an estimated investment of $11 billion.
The second agreement was signed with the Saudi Al-Fanar Company to build a green fuel plant on four million square meters with a total production capacity of 500,000 tons per year and an expected investment volume of $4 billion.
The third MoU was signed with the UAE Alcazar Energy Company to establish an industrial complex for the production of green hydrogen on 37,000 square meters in the Sokhna area, with a total production volume of 230 thousand tons annually and a $2 billion investment.
The fourth deal was inked with the Emirati K & K company to establish a plant in the Sokhna area to produce 230,000 tons per year of green hydrogen. However, no details on the amount of investment were available.
In addition, as per the fifth MoU, the American-Egyptian energy company MEP will invest $250 million to build a green hydrogen production plant with a capacity of 120,000 tons of green ammonia per year on 100,000 square meters in Sokhna’s industrial zone.
The sixth agreement was signed with the Indian Acme Group to establish a plant for the production of green fuel on 4.5 million square meters in Sokhna, with a total production volume of 2.2 million tons annually and an investment volume of #13 billion, according to the statement.
Furthermore, the seventh MoU was signed with the British company Actis to establish an industrial complex for the production of green fuels from hydrogen and green ammonia, with a production capacity of 200,000 tons per year on two million square meters in the Sokhna industrial zone, with $1.5 billion in investments.
