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SCZONE Discusses Various Investments In Green Hydrogen Projects During EBRD Forum

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SCZONE discusses various investments in green hydrogen projects during EBRD forum

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Eng. Yehia Zaki, chairman of the Suez Canal Economic Zone (SCZONE), participated in the annual meeting of the European Bank for Reconstruction and Development (EBRD) and the Bank’s business forum, which was held in Morocco to highlight Egypt’s efforts to attract various investments in clean energy projects, as SCZONE succeeded in attracting international and leading companies which are working in the fields of clean and renewable energy to establish this kind of projects in the affiliated industrial zones.

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Eng. Yehia Zaki’s participation came through a panel discussion in a session entitled “Egypt: A Development Story of a Green and Resilient Economy”. The other panelists were Dr Rania A. Al-Mashat, Minister of International Cooperation and Egypt’s Governor at the EBRD, Mr Terje Pilskog, CEO, Scatec, and Mrs Dalia Wahba, Deputy CIO and CEO of Hassam Allam company.

Dr Heike Harmgart, the managing Director of SEMED Region in EBRD, moderated the session by first emphasizing the successes that can put Egypt in the lead in the field of green hydrogen.

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“SCZONE is one of the investment destinations that provide many investment opportunities in the clean fuel and green hydrogen production sector, as it develops an efficient, global, competitive, and environment-friendly economy. We operate the zone as a global hub for international maritime transport, a logistic and an industrial hub. We offer our investors various incentives to support them, especially in our targeted industrial sectors and the green hydrogen is one of our major targets. We have signed many MOUs with international partners in green fuel production. We are also open to more investments in this promising field, as SCZONE will have the first hub for green hydrogen production in Sokhna.” Eng. Yehia Zaki, chairman of SCZONE declared.

“Egypt is taking the lead in the green hydrogen field and plays as a change maker. There are always challenges, but the government support that we get always gives the solutions, as Egypt is a country you can build the partnerships in.” Mr Terje Pilskog, CEO of Scatec said.*

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It is worth noting that the Suez Canal Economic Zone launched the second phase of technical cooperation with the European Bank for Reconstruction and Development (EBRD) last March.

The second phase aims to implement an improvement program and raise the level of performance for the one-stop-shop service provided by the economic zone to its investors.

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