Minister of Investment and Foreign Trade Hassan El Khatib met with Tushar Chhabra, Head of Business Acquisition at Sterlite Power, a leading company in the field of power transmission and electrical cable manufacturing, to discuss opportunities for cooperation in developing green hydrogen projects in Egypt, as part of his current visit to India.

The Minister expressed his appreciation for the growing relations between Egypt and India in the energy sector, noting that cooperation with Sterlite Power represents an important step to enhance renewable energy projects in Egypt.

El Khatib noted that Sterlite Power’s proposal to establish an electricity grid dedicated to green hydrogen projects in Egypt reflects the confidence of global investors in the Egyptian market.

The Minister explained that the proposed project, with an estimated investment cost of about $5-6 billion, will enhance the power transmission infrastructure and support Egypt’s plan to transition towards clean energy.

El Khatib pointed out that strengthening cooperation with Indian companies in the renewable energy sector opens new horizons for investment, provides job opportunities, and supports sustainable development.

Meanwhile, Chhabra explained that the company sees Egypt as a promising market to expand its investments in the renewable energy sector, especially with the government’s direction to support green hydrogen projects, noting that Sterlite Power has global experience in developing power transmission networks and will strive to provide the latest technologies to ensure the efficiency and sustainability of the proposed project in Egypt.

Recently, Indian companies have been showing interest in Egypt’s green energy sector, including OCIOR Energy, which 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.