China’s CIEG to establish giant $5-8 billion green hydrogen project in Egypt: Chairman

CAIRO - 11 March 2023: China International Energy Group (CIEG) plans to establish a giant project for green hydrogen production in Egypt with investments ranging from $5-8 billion, the group’s chairman said on Saturday.

 

This comes in light of Egypt’s large resources in the field of green hydrogen, the chairman said in a meeting with Egyptian President Abdel Fattah El-Sisi and a group of Egyptian officials, a statement by Egyptian Presidential Spokesman Ahmed Fahmi said.

 

During the meeting, Sisi affirmed Egypt’s keenness to enhance economic cooperation and investments with Chinese companies in the different fields of mutual concern.

 

China’s keenness to expand investments in Egypt during the coming period comes within the framework of the deep friendship between the two countries and their leaderships, the Chinese official said.

 

This also comes in light of the qualitative development witnessed by the industrial infrastructure in Egypt over the past few years, which enabled new investment opportunities, the chairman added.

 

The Chinese official shed light on the tangible improvement in Egypt’s road network, transportation and communications, new cities, seaports, desalination and water treatment plants, electricity and new and renewable energy.

 

During the meeting, Sisi hailed the firm and special relations between Egypt and China, extending congratulations to President Xi Jinping on his reelection for another term.

 

Sisi stressed the respect and appreciation that Egypt attaches to the China’s leadership and the Chinese nation that achieves steady progress and maintains an important position globally.

 

A number of CIEG officials attended the meeting along with Egypt’s Prime Minister Mostafa Madbouli, Minister of Electricity Mohamed Shaker, and Minister of Civil Aviation Mohamed Abbas Helmy.

 

On Friday, Sisi sent a cable of congratulations to President Jinping for his reelection, wishing the Chinese president success in fulfilling the Chinese people’s aspirations to achieve further advancement and progress.

 

Sisi praised the historic and strong friendship relations between Egypt and China, saying he looks forward to continuing joint action and coordination with China in an atmosphere of trust and mutual understanding that have always characterized the two countries’ strategic cooperation.

 

Sisi also stressed confidence that bilateral ties will witness further positive development over the coming years.