Within the framework of his current visit to India, Hassan El-Khatib, Minister of Investment and Foreign Trade, met with Ranjit Gupta, the Founder and CEO of OCIOR Energy, to discuss ways to enhance cooperation in the field of clean energy and sustainable investments in Egypt.

During the meeting, El-Khatib praised the existing cooperation between OCIOR Energy and the Egyptian government, noting that Egypt continues to attract investments in renewable energy and green hydrogen projects, benefiting from its strategic location, developed infrastructure, and ongoing economic reforms.

El-Khatib also affirmed that the Egyptian government is committed to providing all necessary facilities to support foreign direct investments, particularly in the green hydrogen and renewable energy sectors, which represent one of the strategic pillars for achieving sustainable development and enhancing Egypt’s position as a regional hub for clean energy.

For his part, Gupta expressed his appreciation for the cooperation with the Egyptian government and the company’s aspiration to increase its investments in Egypt during the next phase. Gupta pointed out that OCIOR Energy views Egypt as a strategic partner and an ideal location for developing its ambitious projects in the field of renewable energy and green hydrogen.

Gupta added that OCIOR Energy is considered a global leader in the field of developing green hydrogen and green ammonia projects, as the company works on building and operating renewable energy facilities that contribute to achieving environmental sustainability and promoting the transition towards clean energy.

It is worth noting that OCIOR Energy signed a Memorandum of Understanding with the Egyptian government in December 2022 to establish a large investment project in the Suez Canal Economic Zone for the production of green ammonia from green hydrogen, with investments estimated at around $4.2 billion.