EMEA News
Egypt Signs Green Marine Fuel Production Deal
Wednesday April 20, 2022
Egypt's Suez Canal Economic Zone has signed an agreement worth $3 billion to produce up to 350,000 metric tonnes of green energy for fuelling ships.
The fuels will be produced in Ain Sokhna with a consortium that includes EDF Renewables and the Egyptian sovereign wealth fund, news agency Reuters reported, citing Egyptian government sources.
In addition, Egypt has also signed an agreement with AMEA Power of the United Arab Emirates to produce up to 390,000 metric tonnes of green ammonia a year in Ain Sokhna, according to the report.
Last month, shipping giant Maersk said that it was looking at how it might produce green shipping fuel in Egypt.
