Egypt’s deals to unlock $40 B of investments
The investments are expected to be spread over 10 years.
Image for illustration purposes.
Egypt, Cairo: Egypt and various international companies have signed seven memorandums of understanding (MOUs) for the development of renewable energy and green hydrogen projects in the Suez Canal Economic Zone (SCZONE). This is expected to bring $12 billion of investments for the pilot phases and $29 billion for the first phases. Total investments from all phases could exceed $40 billion in 10 years. The details about the types of projects, their capacities, and more specific information on investments haven’t been revealed yet.
Among the companies signing the deals were Pash Global, Smartenergy, Gama Construction and Meridiam consortium, SK Eco Plant and CSCEC North Africa consortium, Gila Al Tawakol Electric, AmmPower ad United Energy Group.
Source: Zawya