The framework agreement will be signed and the technical and financial feasibility studies will be completed during the year 2024. The signing took place on the sidelines of COP28.
Suez Canal Economic Zone (SCZONE) signed a strategic cooperation agreement, with the aim of developing, establishing and operating an integrated industrial complex for green energy technology on a total area of 2 million square meters, within the Suez Canal Economic Zone.
The framework agreement will be signed and the technical and financial feasibility studies will be completed during the year 2024. The signing took place on the sidelines of COP28.
Chairman of SCZONE, Walid Gamal El-Din explained that establishing a modern industrial zone for clean technology comes in line with the efforts of the Suez Canal Economic Zone in the green economy file and with Egypt’s vision across energy sector.
Earlier this week, The SCZONE also signed a memorandum of understanding (MoU) with Norway's Scatec ASA with investments worth $1.1 billion to supply ships with green fuel in East Portsaid.
The MoU aims to issue a license to practice ship bunkering with green fuel for SCATEC in the East Port Said region, at an investment cost of about $1.1 billion and the production volume will reach 100 thousand tons of green methanol annually by 2027.
