India’s ACME signs agreement for green hydrogen project in Egypt’s Ain El Sokhna

Egypt’s Suez Canal Economic Zone (SCZONE) and the Indian company ACME signed an agreement on Wednesday to work on green hydrogen project in Ain El Sokhna, which the construction works will start by early 2024.

The agreement was signed in the Indian capital New Delhi during a visit from a SCZONE business delegation to showcase investment opportunities in Egypt.

In August 2022, SCZONE had signed MoU with ACME Group to establish a green hydrogen production plant with a total annual capacity of 2.2 million tons in Ain El Sokhna.

The SCZONE statement said that the $12 billion project will be built on an area of 4.5 million square metres, and it will also produce 100,000 tons per annum in the pilot phase.