The Egyptian Cabinet approved converting plots of land belonging to petroleum companies located in Ras Shukheir and the Gulf of Suez into a clean green industrial zone for the petrochemical industry and production of green hydrogen. 

This comes to utilize the potential of this region in enhancing Egypt‘s position as a regional and global hub for green industries, supporting sustainable development goals in Egypt, and increasing its export and investment capacity.

In principle, approval was also given for the Ministry of Transport to proceed with the contracting procedures for the green hydrogen, its derivatives, and green ammonia production project in the vicinity of Ras Shukheir, within the Ras Shukheir green industrial logistics zone, between the Red Sea Ports Authority, the New and Renewable Energy Authority, and an alliance of several international companies.

This came during the 34th meeting of the Cabinet chaired by Prime Minister Mostafa Madbouly.