MIDDLE EAST: Suez Canal Economic Zone inks agreement for green marine fuel production

The first MoU was signed by the General Authority of Suez Canal Economic Zone, the Sovereign Fund of Egypt, the Egyptian Electricity Transmission Company, the Authority of New and Renewable Energy, and EDF Renewables and Zero-Weste Egypt Alliance.

The second MoU was signed between the Egyptian government parties and AMEA Power UAE which is affiliated with Al Nowais Group.

‘The Egyptian state, under the leadership of President Abdel Fattah El-Sisi, is keen to sign more projects that support the transition to a green economy. The signing with EDF Renewables and Zero-Weste Egy Alliance, and AMEA Power UAE is a part of several partnerships undertaken by the Egyptian state in this framework,’ said Madbouly. ‘Every effort in this regard is consistent with Egypt’s enormous capabilities to produce green hydrogen and green ammonia.’

Chairman of SCZone, Eng. Yehia Zaki, explained that the first MoU with the French company EDF Renewables and Zero-Weste Egy Alliance aims to establish a project to produce 350,000 tonnes of green fuel annually in the Sokhna area through two phases, with investments of $3 billion.

‘The work will begin in the first phase with a production capacity of 140,000 tonnes for ship bunkering purposes,’ said Zaki. ‘The Commercial operation will take place in the first quarter of 2026.’

Meanwhile the second MoU with EMEA Power, a subsidiary of the Emirati Al Nowais Group, aims to produce green ammonia and hydrogen in Sokhna, ‘with a production capacity of 240,000 tonnes annually in the first phase of the project’.

Source: By Rhys Berry – bunkerspot.com

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