DMEA: Suez Canal Economic Zone signs green project agreements worth $14.75bn

Egypt’s Suez Canal Economic Zone (SCZone) signed multiple energy agreements worth $14.75bn according to a statement released by the Egyptian cabinet on Tuesday (October 17), opening new possibilities for sustainable energy in the region.

Agreements signed by SCZone include a $6.75bn deal with China Energy Engineering Group to construct green ammonia and hydrogen projects in the Ain Sokhna Industrial Zone, showcasing Egypt’s continual efforts in the renewable energy sector. The project is set to provide 1.2mn tonnes of green ammonia and 210,000 tonnes of green hydrogen upon completion.

Further agreements include a deal inked between SCZone and Hong Kong-listed United Energy Group aiming to build a potassium chloride production complex, with investment in the project expected to reach $8bn.