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The Egyptian Prime Minister Dr Mostafa Madbouly witnessed at the Cabinet the signing ceremony of a memorandum of understanding MOU between the General Authority for Suez Canal Economic Zone (SCZONE), The Sovereign Fund of Egypt (TSFE), The Egyptian Electricity Transmission Company, The New and Renewable Energy Authority, and the consortium of the French Total company, the Egyptian Enara Capital company.
The MOU aims to set up a project for green ammonia production from clean energy in SCZONE. The signing ceremony was held in the presence of Dr Mohamed Shaker, Minister of Electricity and Renewable Energy, and Dr Hala Al-Saeid, Minister of Planning and Economic Development.
The MOU was signed by: Eng. Yehia Zaki, chairman of the Suez Canal Economic Zone, Mr. Ayman Soliman, CEO of the Sovereign Fund of Egypt, Eng. Sabah Mashali, Chairman of the Egyptian Electricity Transmission Company, and Dr Mohamed El-Khayat, chairman of the authority of New and Renewable energy, Mr. / Romain de Le Martiniere, the General Manager of the French “Total” company, and the Eng. Sherif El-Gabaly, Chairman of the Egyptian “Enara Capital” company.
“Egypt is working seriously to push the green economy transition, especially by granting facilities, offering incentives to attract green investments, financing opportunities for investors in this field, and signing more memoranda of understanding for projects that support this transformation. All these efforts are done according to the directives of President Abdel-Fattah El-Sisi about to accelerate the effective steps towards the transition to a green economy,” Dr Mostafa Madbouly, the Egyptian prime minister said.
“Signing this MOU with the French Total and Egyptian Enara Capital consortium is targeting the establishment of a project in Sokhna to produce 300,000 tons of green ammonia annually in the first phase of the project up to reach one and a half million tons annually. The project will be fed with green hydrogen which will be produced from clean and renewable energy sources,” Eng. Yehia Zaki, chairman of SCZONE stated.
“The Suez Canal Economic Zone has several agreements with major international leading companies in the clean energy field as a step towards establishing industrial complexes for the production of green hydrogen, coinciding with Egypt’s hosting (COP27), which will be held Next November in Sharm El Sheikh,” Zaki added.