Supervisor Elham AbolFateh
Editor in Chief Mohamed Wadie

Dutch Delegation Visits SCZone to Discuss Green Energy Projects

Wed 24 May 2023 | 08:05 PM
Taarek Refaat

The General Authority of the Suez Canal Economic Zone (SCZone) received at the Investors Service headquarters in Sokhna a high-level delegation from a government institution in the Netherlands working in the field of green energy, accompanied by a company operating in the same field  to identify investment opportunities in this sector.

The delegation was received by Major General Walid Youssef, Vice President of the Authority for the Southern Region, as the visit comes after a successful tour of the head of the Netherlands Economic Zone, which included a visit to the city of Rotterdam to introduce the economic zone, meet the Dutch investment community, and promote investment opportunities in the regions and ports belonging to partnerships wishing to invest.

The Vice President of the Authority, Walid Youssef, explained, during his presentation, the potential of the Suez Canal Economic Zone, including integrated industrial zones and 6 ports connected to the Red Sea and the Mediterranean Sea.

He also reviewed the targeted sectors in the industrial zones, stressing that the strategy of the Suez Canal Economic Zone towards the localization of the green hydrogen industry is based on main axes, which are the manufacture of green fuel from green hydrogen and green ammonia, as well as the localization of complementary industries for this industry such as electrolyzers, solar panels, wind turbines, and others, pointing out To investment incentives and qualifying technical workers to work on such huge projects.

During the meeting, the Vice President of the Authority presented memorandums of understanding for green hydrogen projects, which amounted to 23 memorandums of understanding, 9 of which were converted into framework agreements to start implementation according to the targeted timetables, explaining the areas allocated for green fuel projects, which amount to 20 million square meters in the industrial zone in Sokhna, allocated for these projects. It was 13 square kilometers, due to the increased demand for these projects within the Suez Canal Economic Zone.

After the meeting, the delegation made an inspection tour of the Sokhna industrial area, where the delegation inspected the Egypt Green Hydrogen Company, the first plant for the production of green fuel, as well as an inspection tour of the sites specified for green hydrogen projects.