The agreement aims to enhance trade and economic cooperation among members, expand bilateral trade across various sectors, and facilitate the signing of contracts and partnerships between companies from both nations.
The two ministers signed a protocol during the session, which outlined an agreement on 16 key developmental areas to serve as the foundation for future collaboration.
Al-Mashat emphasized that the committee’s convening demonstrates the evolving strategic relationship between Egypt and Europe, particularly with Poland set to assume the EU presidency on January 1, 2025
Hynfra intends to build five plants to meet the green ammonia needs of Eastern and Central Europe, selecting Egypt as the site for one of these plants. The initial phase is expected to be completed by 2030, with a production capacity of 100,000 tons per year, and potential expansion to produce up to 1 million tons annually.
The facility aims to achieve annual exports of approximately €250 million. The initial phase involves a €70 million investment, with a local content target of 40%, rising to 80% within five years.
