Belgium’s Deme to launch green hydrogen project with $3B in initial investments

CAIRO – October 26, 2023: The Egyptian Cabinet and Belgian company Deme collaborated to launch green hydrogen project in the port of Jargoub, Egypt with initial investments expected to cost approximately $3 billion.

In an official statement released on Wednesday, the Cabinet highlighted that the project will be executed through three phases. The project’s production is primarily earmarked for export to the European market.

Prime Minister Madbouly stressed Egypt’s full commitment to support the project and facilitate the company's operations within the country.

The announcement came following a meeting between Deme CEO Luc Vandenloeck and Egyptian Prime Minister Mostafa Madbouly, during which Vandenloeck expressed the company's interest in expanding green hydrogen initiatives within Egypt. This took place on the sidelines of the EU’s Global Gateway Forum that Madbouly is attending.

Deme officials discussed ongoing discussions with the Ministry of Transport regarding potential cooperation in the development of the river transport system. Additionally, they mentioned collaborative efforts with the Suez Canal Authority concerning the development of Lake Bardawil. The company expressed its hopes to expand cooperation on this project to further enhance the lake's development.