Egyptian Prime Minister Moustafa Madbouli attended on Wednesday the inking ceremony of a framework agreement to upgrade the green hydrogen project at the Suez Canal Economic Zone (SCZone).
The deal was sealed among the Sovereign Fund of Egypt, the SCZone, the Egyptian Electricity Transmission Company, the New and Renewable Energy Authority, Saudi developer company ACWA Power.
The agreement was signed in the presence of Electricity Minister Mohamed Shaker, who stated that a plan of action will be outlined for the first phase, which should produce 600,000 tonnes of green ammonia annually at a total cost exceeding four billion dollars.
