Belgium's DEME to invest $3bln in Egypt hydrogen project -cabinet

Chemical symbols are displayed at a hydrogen station in Tokyo, Japan April 24, 2017. Image used for illustrative purpose. Issei Kato, Reuters
Reuters Images

The project will be developed in three phases

Momen Saeed Atalla, Reuters News

October 25, 2023

PHOTO
Chemical symbols are displayed at a hydrogen station in Tokyo, Japan April 24, 2017. Image used for illustrative purpose. Issei Kato, Reuters

The first phase of Belgium's DEME's investments in Egypt's Gargoub Port green hydrogen project will be worth of $3 billion, Egypt's cabinet announced on Wednesday.

CEO Luc Vandenbulcke said DEME is interested in expanding green hydrogen projects in Egypt in a meeting with Egypt's Prime Minister Mostafa Madbouly, the cabinet said in a statement.

The project will be developed in three phases, it added.

(Reporting by Momen Saeed Atalla, writing by Ahmed Elimam; editing by Jason Neely)

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