The Suez Canal Economic Zone (SCZONE) has attracted $64 billion in green hydrogen investments through 12 framework agreements, said Waleed Jamaleddin, chairman of SCZONE, according to Daily News Egypt. Jamaleddin said SCZONE has signed 30 memorandums of understanding (MoUs), 14 of which are currently in force. The 12 finalized framework agreements are expected to produce 18 million tons of green hydrogen annually.
A further project with a projected annual production of 1.3 million tons and an investment of $7.5 billion is also reportedly under development. The report added that SCZONE has six major ports, currently operated by five major companies, adding to its attractiveness to investors. Jamaluddin also outlined key investment opportunities in the green hydrogen sector in the region, highlighting the potential for green hydrogen production, its supporting infrastructure and ship bunkering.