Madbouly discusses FDI proposal for mega green hydrogen plant in Egypt

The project is expected to have an annual capacity of 400,000 tons by fully depending on solar energy with a capacity of 15 gigawatts (GW)

Staff Writer, Arab Finance

August 9, 2023

PHOTO

Arab Finance: Prime Minister Mostafa Madbouly has met with several officials to discuss the offer proposed by a foreign firm to establish a mega green hydrogen plant in Egypt via direct foreign investments (FDI), according to a cabinet statement on August 8th.

The project is expected to have an annual capacity of 400,000 tons by fully depending on solar energy with a capacity of 15 gigawatts (GW).

The plant’s entire production is set to be exported to Europe, targeting exports worth $1 billion a year. It will create numerous job opportunities.

The project’s feasibility study will be conducted in the upcoming period.

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