The Senate Energy and Environment Committee held a meeting to discuss business developments and negotiations that the Suez Canal Economic Zone (SCZONE) is carrying out with international alliances and companies in the green fuel projects sector, the Cabinet announced.
The meeting discussed the future vision of the green hydrogen industry in the economic zone, especially after the success it achieved in COP27.
During COP27, SCZONE signed 9 framework agreements with major international companies to localize the green fuel industry within the zone, in addition to opening the first green hydrogen plant within the Sukhna Industrial Zone of the Authority.
The meeting was chaired by Representative Abdel-Khaleq Ayad in the presence of Representative Noha Zaki, Secretary of the Committee. It also included members of the Energy Committee of the Senate, with the participation of Waleid Gamal Eldien, SCZONE Chairman, based on the proposal submitted by Representative Mahmoud Abu Sedira.
During the meeting, Gamal Eldien, explained that the authority signed 23 memoranda of understanding (MoUs) with major international entities, of which 9 were converted into framework agreements so that the zone could be a center for the green fuel industry.
Gamal Eldien added that the authority’s strategy towards localizing the green hydrogen industry is based on 3 main axes. This includes the manufacture of green fuel from green hydrogen, green ammonia, and ethanol. It also involves the provision of industries complementing green hydrogen industries, such as electrolyzers, solar panels, turbines, and other industries that the authority is currently working on offering some of its projects to investors.