CAIRO – Egyptian Prime Minister Moustafa Madbouli witnessed on Thursday the inking of a memorandum of understanding between the General Authority of the Suez Canal Economic Zone (SCZone), Sovereign Fund of Egypt (SFE), the Egyptian Electricity Transmission Company and Norway’s Scatec company for renewable energy on a project for producing green ammonia from green hydrogen.
The inking ceremony was attended by Ministers Mohamed Shaker of Electricity and Hala Saeed of Planning alongside Norwegian Ambassador in Cairo Hilde Klemetsdal.
The memo was inked by Chairman of the SCZone General Authority Yehia Zaki, SFE CEO Ayman Soliman, Board Chairperson of the Egyptian Electricity Transmission Company Sabah Mashali, Chairman of the New and Renewable Energy Authority Mohamed Khayyat and CEO of Norway’s Scatec company for renewable energy Raymond Carlsen.
Madbouli said the Egyptian state under the leadership of President Abdel Fattah El Sisi has pledged to proceed with the march of development and transition to green economy in order to improve the living conditions of Egyptian people.
He said several international companies have announced their desire to implement green hydrogen projects in Egypt, noting that there are promising opportunities for implementing such projects which come at the top of the government’s priorities.
Cabinet Spokesman Nader Saad said the two-stage project cost dlrs 5 billion, adding that the implementation of the project will coincide with the United Nations Climate Change Conference (COP 27) and production will start in 2025.
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