Belgium's Demi Invests $3 Billion to Produce Green Hydrogen in Egypt

The Egyptian Cabinet announced on Wednesday that the first phase of the Belgian company Demi's project to produce green hydrogen in the port of Jargoub in Egypt will cost about $3 billion.

The Cabinet said in a statement that Demi CEO Luc Vandenloeck said during his meeting with Egyptian Prime Minister Mostafa Madbouly that the company is interested in expanding green hydrogen projects in Egypt.

The statement added that the project will be implemented in three phases.

The Prime Minister affirmed the Egyptian government's readiness to provide all support to the project in order to facilitate the company's work.

Regarding the “Demi” company’s project to produce green hydrogen in the port of Jarjoub, the CEO confirmed that remarkable progress has been made on the path to final agreement and the start of project implementation in coordination with the Ministry of Transport and other concerned parties.

He explained that the project will be implemented in 3 phases, with investments in the first phase only amounting to about $3 billion, and that its production will be allocated for export to the European market.

Company officials also touched on the ongoing discussions with the Ministry of Transport for cooperation in the field of developing the river transport system. They also referred to the ongoing cooperation with the Suez Canal Authority regarding the Lake Bardawil development project, adding: “We hope to expand the scope of cooperation regarding this project in order to develop the lake.” There are many investors wishing to participate in this project, and there are great opportunities to finance the project with support from the European Union.

During the meeting, the Executive Director of the Port of Antwerp stressed the great progress made in developing Egyptian ports and their readiness to enhance cooperation in providing technical support and capacity building in the field of green ports and port digitization, noting that the company is looking forward to implementing projects in this important field with funding from the European Union.

Ambassador Badr Abdel Aty said that the Belgian company "Demi" is interested in expanding its activities in Egypt and is also looking forward to obtaining funding for a number of these projects from the European Union, including the Bardawil Lake development project.