Suez Canal Economic Zone (SCZONE) becomes the first destination for the largest green energy production companies in the world, according to IDSC.
IDSC published a new report that reviews the SCZONE efforts in attracting green investments, the zone was able to sign 5 MOU with the largest and massive international companies in the field.
The report also highlighted the latest achievements of the industrial zone in the field of green logistics and transportation as well.
According to the recent report, the zone has signed MoU with “Masdar & Hassan Allam Utilities” to produce green hydrogen with 480k tons annual capacity, and with a green fuel alliance to produce 140k tons of green ammonia annually with $3 bn investments.
In addition to this, it inked an MOU with “AMEA Power” to produce 390k tons of green ammonia annually and MOU with “Maersk “to produce green fuel for supplying ships.
The report noted that the zone officials and staff have been working against the clock to enhance global trade and maritime transport in the canal in a bid to attract the private sector and international companies.
It’s worth mentioning that the SCZONE’s strategy 2020-2025 aims to promote Egypt and the region as a global gateway to access global markets, making it easier for international and local investors to access their products through the strategic geographical location and the diverse trade agreements with European, African, and Arab markets.