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Eng. Yehia Zaki, chairman of SCZONE, announced that the Suez Canal Economic Zone will sign the final contracts with some international companies and consortiums next November coinciding with Egypt’s hosting COP27, these contracts to establish industrial facilities for the production of green fuel in Sokhna Industrial zone, as a part of efforts exerted towards the transition to a green economy.
Zaki made this announcement during his speech at the European Bank for Reconstruction and Development (EBRD) session, which was held this morning at the bank’s headquarters in the British capital, London.
The session was on the sidelines of his participation, in a high-level Egyptian ministerial delegation, for the annual Egyptian trade mission to the United Kingdom, which is organized by the British Egyptian Business Association (BEBA).
“The green hydrogen and green ammonia projects investments are expected to be more than 10 billion dollars and the production capacity of green fuels expected to be more than 5 million tons annually, as SCZONE is actively coordinating with the Egyptian institutions to attract diversified investments in the green economy field” Eng. Yehia Zaki, chairman of SCZONE declared.
“Egypt has a big interest in green hydrogen projects, as one of the most important inputs for the green fuel industry. SCZONE gets undeniable support from the government based on its unique geographical location along the Suez Canal banks, which qualifies it to become a logistics hub for bunkering with green fuel, in addition to exporting to European Market, which is the largest market for clean energy products.” Zaki added.
On the other hand, the chairman of SCZONE met several representatives of private sector companies in London, which are working in clean, renewable energy, infrastructure, and water desalination. He also met with Mr Alistair Long, Her Majesty’s Trade Commissioner for Africa, who praised the economic development that Egypt is witnessing, as well as the volume of investments in infrastructure, which qualifies it to be the preferred destination for investment.
SCZONE chairman also showed the British companies the investment opportunities in SCZONE, especially the robust infrastructure with the highest international standards to pave the way for the various investments.