Egyptian Prime Minister Mustafa Madbouli attended the signing ceremony of four agreements in the domain of green ammonia between the Sovereign Fund of Egypt and a number of European developers, with a total investment cost of 33 billion dollars.
Minister of Electricity and Renewable Energy Mohammad Shaker and Minister of Planning and Economic Development Hala El-Said attended the signing ceremony that took place on the sidelines of the Egypt-EU Investment Conference.
The contract was signed by General Authority for Suez Canal Economic Zone (SCZone) Chairman Waleed Gamal El Dien, Sovereign Fund of Egypt CEO Ayman Suliman and New and Renewable Energy Authority (NREA) CEO Mohammad el Khayat.
The first agreement was signed with DAI Infrastruktur to set up green ammonia project at a total value of 11 billion dollars.
At a total investment cost worth 4.250 billion dollars, the second agreement was signed with Ocior Energy company.
Sealed with TAQA Arabia and Voltalia company, the 3.460-billion-dollar worth third agreement.
Agreement no. four was signed with British Petroleum (BP), Infinity Power, MASDAR and Hassam Allam Holding, at an investment cost of 14 billion dollars.
Source: The Egyptian Gazette
