CAIRO - Egypt has signed a memorandum of understanding (MoU) with an Indian company to build a green hydrogen factory in the Suez Canal Economic Zone, a cabinet statement said on Wednesday.

According to the MoU, Indian ReNew Power Private Limited will build a factory to produce 20,000 tonnes of green hydrogen a year, with investments worth $8 billion.

(Reporting by Momen Saeed Atallah; Writing by Yasmin Hussein; Editing by Jan Harvey)