Gov't Reviewes Green Ammonia Project with Investments of $1 bn

PM Mostafa Madbouly reviewed the features of the project presented by Benchmark Power International to produce green ammonia in the Gulf of Suez, in a meeting in the presence of Hisham Amna, Minister of Local Development, Abdel Mageed Saqr, Governor of Suez, and Ahmed Bahgat, Chairman of the Board of Directors of the Company.

The Prime Minister said in a statement Sunday that the Egyptian state has great capabilities that qualify it to be a regional center for the production and export of green hydrogen and green ammonia, in light of the great incentives that the state grants to green projects, and the huge capabilities available to us of electricity generated from free renewable energy sources. Completely free of any carbon emissions, which puts us on the right path to reaching carbon neutrality levels.

The Prime Minister pointed out that the National Council for Green Hydrogen had approved, during the week before last, the green hydrogen strategy that gives many advantages and incentives to this important sector, and that one of the companies had succeeded, during the past few days, in exporting the first green ammonia shipment in the world from Egypt to India, which is an incentive for international companies to come to Egypt and invest in this sector.

Mostafa Madbouly said: “The country also enjoys a comparative advantage in ammonia production, thanks to the well-equipped infrastructure it possesses in this regard, which enables it to increase the opportunities for producing and exporting ammonia globally.”

He pointied out that the project is part of the state’s plan for green hydrogen projects, adding that the Executive Committee for Follow-up on Green Hydrogen Projects discussed this project a few days ago, with the aim of working to provide its needs and overcome any obstacles.

During the meeting, Ahmed Bahgat, Chairman of the Board of Directors of Benchmark Power International said that the project aims to build an electrolysis facility with a capacity of 400 megawatts, which will use completely renewable energy to produce 183 tons/day of green hydrogen to produce 1,000 tons/day of green ammonia.

He explained that the project's expected investments amount to about $1 billion, distributed over the establishment of an electrolysis facility and an ammonia station, in addition to allocating part of the investments to establish a water desalination station that enters into the electrolysis process to produce green hydrogen and other infrastructure necessary for the project.

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