SCZone Receives 24 Japanese Companies wishing to Invest in Renewable Energy, Green Fuels

The Suez Canal Economic Zone (SCZone) Received Sunday 24 Japanese Companies wishing to Invest in Renewable Energy, Green Fuels.

Walid Gamal El-Din, SCZone Chairman received a business delegation of Japanese companies working in the field of renewable energy, green fuels and various industries headed by the Japanese External Trade Organization JETRO, to participate in an expanded meeting.

The meeting came within the framework of discussing joint cooperation between the JETRO organization and the zone and ways to enhance investment in industrial sectors targeted for localization within the authority’s ports and regions and attracting Japanese investments to them, in addition to discussions about cooperation in green energy projects between the two sides, and support for small and emerging projects.

The head of the Suez Canal Economic Zone expressed his aspiration to cooperate with Japanese companies in the green fuel sector and the industries that feed it. He then gave a presentation on the economic zone’s efforts in the green fuel file.

He pointed out the work to activate memorandums of understanding between the region and alliances of international companies, as well as displaying industries complementary to the green hydrogen projects that the region is working to establish, such as the water desalination plant in Sokhna, the service corridor linking the lands allocated for green hydrogen and the port of Sokhna, and the implementation of the liquid bulk dock in the port of Sokhna.

The meeting was attended by representatives of the Egyptian-Japanese Business Council (EJBC), the Japan Organization for the Development of New Energy and Industrial Technology, the Japan International Cooperation Agency (JICA).

There was a remarkable presence of companies that signed framework agreements or memorandums of understanding with the economic zone to establish green fuel projects within the zone.

On his part, the head of the Japanese delegation, Kazuya Nakajo, Executive Vice President of the Japanese External Trade Organization JETRO explained that Egypt, which hosted the Climate Summit (COP27) last November, possesses all the elements to promote the green transition with its renewable energy sources of solar and wind energy.

He also pointed to the infrastructure that qualifies Egypt to be a center for renewable energy supplies in North Africa, in addition to the green hydrogen projects that have been planned in the zone, with the aim of making it a future export base for this vital product.

He stressed JETRO's constant keenness to enhance cooperation with the Suez Canal Economic Zone as an Egyptian institution working to support investment in various sectors, especially the green fuel sector.

During the meeting, representatives of Arab Energy companies, Global Africa, Mediterranean Energy Partners, SCATEC, Maersk, BP, Fortescue, Zero West, ACWA Power, Total Erin Alliance, Enara Group, and the Indian company Okure Energy gave presentations on their projects to be established within the region from Investment volume, production capacity, job opportunities, and some other technical details.

This was followed by other presentations by representatives of the Japanese business delegation's companies, which amounted to 24 companies and institutions operating in various fields such as engineering industries, utilities, financial services, maritime transport, consulting, and some governmental organizations.

Representatives of these institutions expressed their desire to invest in the economic zone in these sectors and future cooperation between the two parties.