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Waleid Gamal El-Dein, SCZONE Chairman, received Mr Terje Pilskog, CEO of the Norwegian Company Scatec, and Mr James Nutter, Scatec SVP Projects, and a delegation comprising a number of technical expertise from both sides, in order to follow up on the developments of the feasibility studies carried out by Scatec Company based on the memorandum of understanding that was signed between the company and SCZONE; In preparation for the signing of the final binding contracts and the actual start of projects implementation, and to accelerate the implementation of the project related to the localization of green fuel projects and complementary industries.
“We are looking forward to hearing about the results of the technical studies carried out by Scatec Company, and SCZONE is serious about supporting the major entities that have signed memoranda of understanding for the production of green fuel, and we are ready for these projects, not only because of the direct and indirect investment incentives but because of the integrated package that SCZONE offers. Waleid Gamal Eldien appointed.
“The advantages that we gave for our investors including the proximity to renewable energy sources, the integration between ports and industrial zones, in addition to its proximity to the green fuel consumption markets in Europe, as well as the readiness of the economic zone’s infrastructure, and the importance of the distinguished geographical location, which gave SCZONE the lead to become one of the most qualified zones in the world to be a regional hub for green fuel industries,” SCZONE Chairman declared.
Mr Terje Pilskog, Scatec CEO mentioned, “Scatec expresses its full commitment to complete this project with the highest technical standards and according to the specified time schedule, and we value the efforts made by various parties, especially the cooperation with SCZONE in this regard, and the company has already started a number of consultations with companies that will receive production from green fuel (off-takers). At the same time, the company is completing the optimum selection of the green hydrogen facility location, storage areas, and places to guarantee access to renewable energy.”
It is worth noting that Scatec is one of the first companies to sign a memorandum of understanding with the Suez Canal Economic Zone to establish a new facility in Sokhna to manufacture green ammonia with a capacity of one million tons annually, which can be increased to 3 million tons annually, and commercial operation will begin by 2026.