Prime Minister Mostafa Madbouly witnessed the inking of a cooperation agreement to produce green hydrogen, its derivatives and green ammonia in Ras Shukeir.
The agreement involves the General Authority of Red Sea Ports, the New and Renewable Energy Authority, the French company of EDF Renewable and the Egyptian-UAE company of Zero Waste.
This came on the sidelines of Egypt-EU Investment Conference that was inaugurated on Saturday in the presence of President Abdel Fattah al-Sisi and President of the EU Commission Ursula von der Leyen.
The inking ceremony was attended by Electricity and Renewable Energy Minister Mohamed Shaker, Transport Minister Kamel el Wazir and EU Trade Commissioner Valdis Dombrovskis.
The agreement comes within the framework of the presidential directives to encourage and increase the efforts of localizing the industry of green hydrogen and providing the investment atmosphere suitable for it as well as strengthening Egypt’s position as a regional and global exporter of energy and green fuel, Wazir said.
The project would have positive effects on pushing sustainable development efforts forward via strengthening the green hydrogen industry and attracting more giant companies to establish similar projects that contribute to localizing and developing this industry in Egypt to provide green fuel gradually for the ships crossing the Suez Canal, he said.
The project would have direct economic revenues via the fees paid to the state to get the services presented by the company implementing it, he said.
