Suez Canal Economic Authority Signs MoU for Production of Green Fuel 

Egypt Prime Minister (PM), Dr. Mustafa Madbouly witnessed the signing ceremony of a memorandum of understanding (MoU) between the General Authority for the Economic Zone of the Suez Canal, the Sovereign Fund of Egypt, the Egyptian Electricity Transmission Company, the New and Renewable Energy Authority, and the Indian company "Renew Power", to establish a project to produce electricity and green fuels within the Suez Canal Economic Zone with total targeted investments estimated at $8 billion.

Eng. Yahya Zaki,  President of the General Authority for the Economic Zone of the Suez Canal, stressed that the new project reveals the growing interest of major companies and global alliances in partnership with the Suez Canal Economic Zone to establish green energy production projects from an insightful vision for the economic zone in adopting green fuel as a target sector within its strategy 2020-2025 to receive and supply ships with green fuel in the shortest time.