Prime Minister Moustafa Madbouli stressed that the state – under the leadership of President Abdel Fattah El Sisi – is keen on inking more projects that would help transition to green economy.
He noted that cooperating with the Green Fuel Alliance is part of a series of international partnerships which the state will be engaged with to make use of the great Egyptian capabilities in producing green hydrogen and green ammonia.
Madbouli made the remarks on Wednesday during the signing of a memorandum of understanding between the Suez Canal Economic Zone (SCZone), the Sovereign Fund of Egypt (SFE), the Egyptian Electricity Transmission Company (EETC) and the New and Renewable Energy Authority with the Green Fuel Alliance which comprises Zero Waste Company and EDF Renewables.
The memo is meant to establish a projects in the Suez Canal Economic Zone to produce 350,000 tons of green fuel annually to fuel ships.
The inking ceremony was attended by SCZone Chairman Yehia Zaki, SFE Chairman Ayman Soliman, EETC Chairperson Sabah Mashali, Board Chairman of the New and Renewable Energy Authority Mohamed Khayat, Board Chairman of Zero Waste Amr Sawaf and director of EDF Renewables in Egypt – an affiliate to the moth company in France, Frederic Belloy.
The several-stage project will start with producing 140,000 tons annually of green ammonia until it reaches the aspired 350,000 tons annually.
The 3-billion-dollar project’s facility will be set up in 2024 with the pilot operation due in 2026.
For his part, Zaki said the SCZone signed several agreements in the field of green energy production.
Source: State Information Service Egypt