CAIRO – Egyptian Emigration Minister Nabila Makram said that “Egypt Can With Industry” conference starts to reap the fruits of its convocation.
This came during the signing of a memorandum of understanding between the Suez Canal Economic Zone (SCZONE) and German energy storage firm H2 Industries to build the first Waste-to-Hydrogen plant in the economic zone, with total investments amounting to about $4 billion.
The agreement was signed on the sidelines of the sixth edition of “Egypt Can” conference, which is currently in session in the New Administrative Capital, under the auspices of President Abdel Fattah El Sisi.
The signing ceremony was attended by the emigration minister and Minister of Military Production Mohamed Ahmed Morsi.
The MoU was signed by Chairman of the Suez Canal Economic Zone Yahia Zaki and Executive Chairman and CEO of H2-Industries Michael Stusch.
Under the agreement, the Waste-to-Hydrogen plant will be build in East Port Said area, with a production capacity of 300,000 tons of green hydrogen annually, disposing of four million tons of Municipal Solid Waste (MSW) per year.
Following the signing ceremony, Zaki underlined efforts exerted by the authority to lure investments to the economic zone.
For his part, the CEO of H2-Industries said this project has the double benefit of creating valuable clean hydrogen, while addressing the important issue of waste management by using organic waste, including plastic waste.
“This is just the first of three international projects where governments, around the globe, realise that organic waste and especially plastic waste, if treated correctly, can be a valuable asset and used to generate significant amounts of clean energy with our project in East Port Said.”
H2-Industries will conduct feasibility studies ahead of the final contracts for the project, planned at COP27 in the Red Sea resort of Sharm el-Sheikh in November.
