The Ministry of Environment signed a cooperation agreement with the Suez Canal Economic Zone (SCZone) to finance environmental projects for companies in the zone, according to a statement released by the ministry on Tuesday.
Minister of Environment Yasmine Fouad said the agreements aim to help Egyptian companies become more efficient, reduce energy and resource consumption, and comply with national and international environmental standards.
Under the agreement, the environment ministry will help develop a sustainability strategy for the SCZone, which includes training for zone staff and companies on implementing sustainable production goals and calculating the carbon footprint of products, Fouad said.
The SCZone will coordinate between the ministry's Egyptian Environmental Affairs Agency (EEAA) and companies in the zone, explained the statement.
The EEAA also signed agreements with three companies - El Nasr for Fertilizers and Chemical Industries (SEMADCO), Flex P Films, and Huhtamaki Egypt - to support the green transformation of industrial facilities, according to the statement.
SEMADCO is building a 13.57 million euro wastewater treatment plant in Suez, with 11.8 million euros coming from the Egyptian Pollution Abatement Programme (EPAP) at the EEAA.
Meanwhile, Flex P Films is building a recycling facility for polyethylene terephthalate (PET) plastic at a cost of 16.05 million euros, with 7 million euros coming from the EPAP.
Huhtamaki Egypt is developing an ethyl acetate solvent recovery unit at 3.59 million euros, with 2.84 million euros coming from the EPAP.
The EEAA also signed an agreement with the Egyptian Ministry of Foreign Affairs, UN Development Programme and French Development Agency (AFD) for a 1.5 million euro project to help Egyptian banks finance climate change projects such as renewable energy.
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