Green Industrial Zone to Be Built in Gulf of Suez
The project looks to support sustainable goals in Egypt, and increase its export and investment capacity.
Plots of land belonging to petroleum companies in Ras Shukheir and the Gulf of Suez will be converted into a green industrial zone for the production of green hydrogen, according to the Ministry of Finance.
Approval was also given to the Ministry of Transport to proceed with the contracting procedure for the development of green ammonia production projects in the area of Ras Shukheir.
Green hydrogen is described as hydrogen produced by splitting water and oxygen to produce renewable electricity, which results in very low or zero carbon emissions. The green project comes in line with the government’s goal to support sustainable goals in Egypt, and increase its export and investment capacity.
The agreement is made in partnership with the Red Sea Ports Authority, the New and Renewable Energy Authority, and an alliance of several international companies.
