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Egypt’s Suez Canal Economic Zone (SCZONE) announced on Wednesday that it has signed a framework agreement with Indian company ACME to start construction work on a planned green hydrogen project in Sokhna in early 2024.
The agreement was signed in the Indian capital New Delhi this week during a visit by a high-profile business delegation led by SCZONE to showcase investment opportunities in Egypt.
In August 2022, SCZONE had signed a memorandum of understanding with ACME Group to establish a green hydrogen production plant with a total annual capacity of 2.2 million tonnes in Sokhna.
The SCZONE statement said the $12 billion project would be built over an area of 4.5 million square metres, adding that the project will produce 100,000 tonnes per annum in the pilot phase.
(Writing by Eman Hamed; Editing by Anoop Menon)
