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SCZONE Signs 7 MoUs For Green Energy Production

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A file photo of SCZONE signs new 7 MoUs for green energy production.

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The Egyptian Prime Minister Dr Mostafa Madbouly witnessed, this morning, at the Cabinet headquarters in the new El-Alamein city, the signing ceremony of 7 memoranda of understanding in the presence of Eng. Faisal Al-Yamani, Undersecretary of the Ministry of Investment in the Kingdom of Saudi Arabia, and Mr Mazyad Muhammad Al-Huwaishan, Genera Consul of KSA in Alexandria, and Saudi officials.

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The MoUs between the General Authority for Suez Canal Economic Zone (SCZONE), The Sovereign Fund of Egypt (TSFE), The Egyptian Electricity Transmission Company (EETC), The New and Renewable Energy Authority (NREA), and 7 leading global companies and consortiums that working in the field of new and renewable energy production.

The MoUs were signed by: Waleid Gamal El-Dein, Chairman SCZONE, Abd-Allah Elibiary, Investment manager of TSFE, Eng. Sabah Mashali, Chairman of EETC, Dr Mohamed El-Khayat, Chairman of NREA.

While the MoUs from companies were signed by Mr Paolo de Michele, representative of the British (Globaleq) company, Eng. Sabah Al-Mutlaq, Chairman of the Board of Directors of (Al-Fanar Saudi) Company, and Mr Daniel Calderon, Co-founder, and CEO of (Alcazar Energy) of the United Arab Emirates, Dr Taj El Din Seif, Chairman of the Board of Directors of (K & K) of the United Arab Emirates, Mr Tanner Sensoy, CEO of the MEP Energy Company, and Mr Rajat Saksria, CEO of ACME Group, an Indian company, and Dr Sherif El-Khouly, Partner and Regional Director for North Africa and the Middle East for the British company Actis.

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The MoU of Globaleq the British company is to establish a green fuel production plant in SCZONE on an area of 10 million square meters with investments estimated at $11 billion and a production capacity of 2 million tons annually.

The Saudi company “Alfanar” will establish a facility for green fuel production on an area of 4 million square meters, with investments estimated at $4 billion, with a total production capacity of 500,000 tons annually.

The Alcazar UAE company will establish an industrial complex for green fuel production in Sokhna on an area of 37,000 square meters, with investments amounting to $2 billion, with a total production capacity of 230,000 tons annually.

The K&K Global Company, its MoU is about to establish a plant to produce 230,000 tons of green hydrogen annually in Sokhna.

The MoU of “MEP” Mediterranean Energy Partners company will invest $250 million to establish a plant for the production of green fuel, with a production capacity of 120,000 tons per year of green ammonia on an area of 100,000 square meters in the industrial zone in Sokhna.

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The Acme Group, an Indian partner will establish a plant for green fuel production on an area of 4.5 million square meters in Sokhna, with investments of $13 billion, and the total production capacity of the project is 2.2 million tons of green hydrogen, annually.

The Actis MoU is to establish an industrial complex for green fuel production from hydrogen and green ammonia, with $1.5 billion investments and a production capacity of 200,000 tons annually. The project will be located on an area of 2 million square meters, in the industrial zone of Sokhna.

“Signing MoUs with various international entities, aimed to establish many facilities for the green fuel production to serve exporting purposes and ship bunkering services. The integration between the industrial zones and the affiliated ports gave SCZONE the competitive advantage that made it one of the most important global destinations and a regional hub for the green fuel industries. In addition to the infrastructure and the facilities networks which are required for green hydrogen as well as the energy supply which will come from outside SCZONE, in cooperation with the Ministry of Electricity,” Waleid Gamal El-Dein Chairman of SCZONE declared.

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