In recent news, the General Authority of the Suez Canal Economic Zone announced the signing of four agreements aimed at producing green ammonia within its jurisdiction. These projects will involve a combined investment of 31.4 billion euros and are expected to create an annual production volume of approximately 6.241 million tons.
The signing of these agreements took place on the final day of the Egyptian-European Investment Conference in Cairo, in the presence of Dr. Mostafa Madbouly, Egypt’s Prime Minister, and several other ministers. Signatories included Walid Gamal El-Din, Chairman of the General Authority for the Suez Canal Economic Zone, Dr. Mohamed El-Khayat, CEO of the New and Renewable Energy Authority, and Ayman Soliman, CEO of the Egyptian Sovereign Fund.
According to the General Authority, one project involves a coalition of companies that will develop and operate a green ammonia production facility in Sokhna’s integrated region in two phases. The total investments for this project are 13.5 billion euros, with an annual production capacity reaching 330,000 tons in the experimental phase. The commercial operations are expected to begin by the fourth quarter of 2030 with an annual production capacity in the first phase estimated to reach about 2.5 million tons