SCZone to conclude clean energy agreements in November


Suez Canal Economic Zone (SCZone) is to finalise its clean energy contracts and consortiums in November, coinciding with COP27 in Egypt.

Chairman Yehia Zaki made the announcement during his speech at the European Bank for Reconstruction and Development (EBRD) session held in London.

The previously announced agreements were valued at around $10 billion and aim to support SCZone’s efforts towards the transition to a green economy.

Under the agreements, new industrial facilities and complexes in Sokhna zone will be established to produce green fuel and use it for ship bunkering purposes or export to foreign markets.

© SCZone

“The green hydrogen and green ammonia projects investments are expected to be more than $10 billion and the production capacity of green fuels expected to be more than 5 million tons annually, as SCZONE is actively coordinating with the Egyptian institutions to attract diversified investments in the green economy field” said Zaki.

“Egypt has a big interest in green hydrogen projects, as one of the most important inputs for the green fuel industry.

“SCZONE gets undeniable support from the government based on its unique geographical location along the Suez Canal banks, which qualifies it to become a logistics hub for bunkering with green fuel, in addition to exporting to European Market, which is the largest market for clean energy products.”

During the session, the Chairman also met several representatives of private sector companies which are working in clean, renewable energy, infrastructure, and water desalination.

Zaki also showed the British companies the investment opportunities in SCZone, especially the robust infrastructure with the highest international standards to pave the way for the various investments.

A.P. Moller – Maersk (Maersk) also recently signed a partnership agreement Egyptian Authorities to explore the establishment of large-scale green fuel production in Egypt.

With the deal, Maersk joins forces with the General Authority for Suez Canal Economic Zone (SCZone), the Egyptian New and Renewable Energy Authority (NREA), the Egyptian Electricity Transmission Company (EETC), and the Sovereign Fund of Egypt for Investment and Development (TSFE).

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