Egypt recently signed four agreements in the field of green ammonia, totaling approximately $33 billion in investment costs. These agreements were signed between the Sovereign Fund of Egypt and European developers during a joint investment conference between Egypt and Europe in Cairo.
The signing was overseen by Prime Minister Dr. Mostafa Madbouly, Minister of Electricity and Renewable Energy Dr. Mohamed Shaker Al-Marqabi, and Minister of Planning and Economic Development Dr. Hala Al-Saeed. The agreements involve establishing green ammonia projects in various ports in Egypt, targeting European markets and aiming to promote green energy production in the region.
The investments are expected to boost economic growth and showcase Egypt as a regional center for green energy. Walid Gamal El Din, Ayman Soliman, and Dr. Mohamed El Khayyat were among the prominent figures who signed these agreements.
Walid Gamal El-Din highlighted the increasing interest of international companies in investing in Egypt, demonstrating confidence in the country’s economy. He emphasized the ongoing projects in the Suez Canal Economic Zone, which aim to maximize the benefits of investment incentives in the region. Ayman Soliman of the Egyptian Sovereign Fund underscored the efforts to collaborate with international companies in the renewable energy sector, promoting Egypt as a hub for green energy investments.
Overall, these agreements signify a significant step towards promoting sustainable energy practices in Egypt and attracting foreign investments to boost the country’s economy. The partnerships with European developers showcase the potential for green energy projects in the region and set the stage for further growth and innovation in this sector.
In summary, Egypt has recently signed four agreements worth $33 billion that will establish green ammonia projects aimed at promoting sustainable energy practices