The Egyptian government is seeking to reinforce the role of the Suez Canal Economic Zone (SCZone) as Egypt hosts the United Nations Climate Conference (COP27) in Sharm El-Sheikh in November.
Prime Minister Mostafa Madbouly met Monday with Yehia Zaki, the Chairperson of SCZone, to review global offers for green hydrogen projects in the Economic Zone.
Madbouly said Cairo is aiming to attract investments to the SCZone, especially in the field of clean energy.
This requires intensifying efforts to optimize the strategic and vital location of the Suez Canal, which is seeking to become a global logistics and economic hu\b, particularly in green hydrogen projects.
For his part, Zaki said that the region is targeting transitioning to a green economy and its various industrial applications, such as the green hydrogen industry.
The zone offers unprecedented opportunities to raise the channel’s competitiveness and turn it into a global hub for green fuel ship supply. It has received a number of global offers for green hydrogen projects, he stated.
He also pointed out that the first project for ammonia production between a global alliance and Egypt’s sovereign fund is being implemented through a new industrial complex being built on the land of the Suez Industrial Development Company.
The SCZone has received several offers from companies to establish green hydrogen projects in the Sokhna industrial area and East Port Said zone, Zaki said. The project will rely on renewable energy produced from wind power outside of the zone.
The implementation phase will coincide with Egypt’s hosting of the COP27, Zaki said, adding that it is a good opportunity to announce the start of green hydrogen projects.
