CAIRO – 3 March 2024: South Korean construction and plant operation company (SK Ecoplant) and China’s state-run construction giant China State Construction Engineering Corporation (CSCEC) will cooperate to establish a plant for producing green hydrogen and green ammonia in the Suez Canal Economic Zone (SCZone).
The project will involve investments worth $2 billion, according to a statement from SK Ecoplant.The companies aim to have the project fully operational by 2029.
As part of the plan, they intend to utilize 778 MWs of renewable energy, consisting of 500 MW of solar energy and 278 MW of onshore wind energy.
This renewable energy will have an annual production of 50k tons of green hydrogen and 250k tons of green ammonia.
Once the Egyptian government allocates a land parcel for the project, the two companies will conduct feasibility studies and determine the exact scale and timeline of the undertaking.
This initiative is part of seven agreements recently signed by Egypt with international developers, focusing on implementing green hydrogen and renewable energy projects in the Suez Canal Economic Zone (SCZONE) within a decade. The total investment for these agreements is over $40 billion.
The pilot phase alone will receive investments valued at $12 billion, while the first phase will receive approximately $29 billion, as stated by Hala El Said, the Minister of Planning and Economic Development.
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