The Prime Minister is witnessing Ceremony of signing a memorandum of understanding on the project to produce green ammonia from green hydrogen in the Suez Canal Economic Zone
Prime Minister Mostafa Madbouly witnessed today the signing ceremony of a memorandum of understanding between the General Authority for the Economic Zone of the Suez Canal, the Egypt Sovereign Fund, the Egyptian Electricity Transmission Company, and the Energy Development and Use Authority New and Renewable Energy, and the Norwegian company “Scatec” for renewable energy, regarding the project to produce green ammonia from green hydrogen.
Ambassador Nader Saad, the official spokesman for the Presidency of the Council of Ministers, stated that the memorandum of understanding, which was signed today, comes in The framework of Egypt’s possession of distinct potentials for the production of hygienic Green hydrogen and green ammonia, in addition to its capabilities that qualify it to become a global power in these two areas, and the Egyptian government intends to add green hydrogen capabilities within its renewable energy goals.
The official spokesperson indicated that the investment project cost, for which the Memorandum of Understanding was signed today, is $5 billion. It will be implemented in two phases, and the implementation of this project comes in conjunction with Egypt’s hosting of the 27 session of the Conference of the States Parties to the United Nations Framework Convention on Climate Change COP27, and production is expected to start in 2025.
It should be noted that, In December 2021, the General Authority for the Economic Zone of the Suez Canal and the Norwegian company SCATEC concluded a memorandum of understanding on the study of establishing a new facility to manufacture green ammonia with a capacity of one million tons per year, using hydrogen The green product is produced from renewable energy, and after conducting the preliminary studies carried out by the “Scatec” company, I decided to The Suez Canal Economic Authority, SCATEC, Egypt’s Sovereign Fund, the Egyptian Electricity Transmission Company, and the New and Renewable Energy Development and Use Authority, sign a memorandum of understanding under which SCATEC will establish a new green ammonia manufacturing facility with a capacity of one million tons per year, which can be increased to 3 million tons. Annually, in the economic zone of the Suez Canal near the port of Ain Sukhna in the locations specified by the New and Renewable Energy Authority, and it is transferred to the national electricity network operated by the Egyptian Electricity Transmission Company