In a joint venture, South Korean construction and plant operation firm SK Ecoplant, and China’s state-run construction giant, China State Construction Engineering Corporation (CSCEC), unveiled plans to establish a facility dedicated to producing green hydrogen and green ammonia within the Suez Canal Economic Zone (SCZone).
According to SK Ecoplant’s statement, the project will entail a significant investment of USD 2 billion, aiming for full operational status by 2029. The initiative involves harnessing 778 MW of renewable energy, comprising 500 MW from solar sources and 278 MW from onshore wind energy.
This renewable energy infrastructure is anticipated to yield an annual production output of 50,000 tons of green hydrogen and 250,000 tons of green ammonia. Following the allocation of land by the Egyptian government for the project, SK Ecoplant and CSCEC plan to conduct comprehensive feasibility studies to determine the precise scale and timeline of the endeavor.
This collaboration aligns with a broader strategic plan outlined in seven recent agreements between Egypt and international developers, focusing on implementing green hydrogen and renewable energy projects within the SCZone over the next decade. The total investment for these agreements is expected to surpass USD 40 billion. Minister of Planning and Economic Development, Hala El Said, indicated that the pilot phase alone will attract investments valued at USD 12 billion, with the first phase expected to receive around USD 29 billion.
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