During a meeting with Chairman of Australia's Fortescue Group Andrew Forrest in the presence of Electricity Minister Mohamed Shaker, Madbouli said Egypt launched a strategy to increase the generation, use and export of clean energy, especially green hydrogen.

He thanked the Australian group for its keenness to invest in Egypt and spoke about efforts being exerted by the Egyptian state to launch a national strategy for green hydrogen in light of ongoing preparations for hosting COP27 in Sharm El Sheikh later this year.

He also encouraged the Australian group to establish green hydrogen projects in Egypt.

Forrest, for his part, reviewed his company's expertise in the field of green hydrogen, expressing his full readiness to pump valuable investments to produce energy from green hydrogen in Egypt.

He stressed that Egypt's capabilities make it an ideal choice to become a regional hub for energy produced from green hydrogen and to export energy to Europe.

At the end of the meeting, an agreement was reached to intensify talks between the Ministry of Electricity and the Australian giant in order to quickly finalize the blueprints of the proposed projects to be implemented in Egypt.