Egypt’s SCZONE invests over $6b in green energy infrastructure

Egypt’s Suez Canal Economic Zone (SCZONE) has invested over $6 billion in infrastructure and facilities designed to support green energy projects, according to Chairman Waleid Gamal El-Dien.

His remarks came during the Egyptian-French Business Forum held in Paris, where he discussed the SCZONE’s initiatives aimed at fostering a green economy.

During the “Green Opportunities and Carbon Footprint” session, Gamal El-Dien highlighted the establishment of the first green fuel production project within the integrated Sokhna zone.

This initiative includes the export of the first shipment of green ammonia and a global supply contract for green fuel to Germany. Notably, the SCZONE has successfully fueled the world’s first green hydrogen-powered container ship in August 2023.

Gamal El-Dien expressed the SCZONE’s ambition to become a leading centre for green fuel production and trade, emphasising Egypt’s commitment to strengthening global partnerships in green sectors, particularly electric vehicles, to combat climate change and reduce the carbon footprint.

Additionally, he addressed the SCZONE’s efforts to enhance the investment climate by digitising services for investors.

This “one-stop service” approach aims to streamline construction and operational procedures, improve governance, and facilitate logistics, contributing to a more efficient and responsive investment environment.

Attribution: Suez Canal Economic Zone (SCZONE)

Subediting: M. S. Salama