Ocior Energy signed contract to launch $4B green hydrogen station in Egypt

CAIRO - 10 August 2023: Ocior Energy will set up a $4 billion green hydrogen plant in the Suez Canal Economic Zone (SCZone), Yehia El-Wathek Bellah, head of the Trade Ministry’s Commercial Representation Authority, was cited by local media.

The company signed contracts with the Egyptian government and SCZone already allocated the land for this project.

The finalized contract for the plant will be signed within months, and execution will take around 5-6 years. Ocior Energy will invest around $4 billion to build the project, local media reported.

Ocior Energy is the foreign company that made an offer to the Cabinet on Tuesday to launch a green hydrogen station in Egypt.

The station's production of green hydrogen will be exported to Europe, with projected annual exports of up to $1 billion.

Earlier this week, Nader Saad, spokesperson for the Egyptian Cabinet, stated that the project is set to achieve an annual capacity of 400,000 tons, powered entirely by 15-gigawatt solar energy.