Egypt signs 7 MoUs for industrial projects in Ain Sokhna

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Egypt has signed seven memoranda of Understanding (MoUs) with seven global companies for the establishment of industrial complexes at the industrial zone in Ain Sokhna, according to an official statement on August 25th.

The agreements were signed by a number of government entities, namely the New and Renewable Energy Authority (NREA), the General Authority for Suez Canal Economic Zone (SCZone), Egyptian Electricity Transmission Co (EETC), the Sovereign Fund of Egypt (TSFE), and seven pioneering companies in the generation of new and renewable energy.

The first MoU was signed between Egypt and the UK-based Globeleq company for the establishment of a plant for the production of green hydrogen on an area of 10 million square meters (sqm) at the SCZONE.

The plant is set to begin operations in 2026, with an annual production capacity of up to 2 million tons.

The second MoU was signed between the government and the Saudi Arabian group Alfanar for setting up a plant for the production of green fuel on an area of 4 million sqm, with a total capacity of 500,000 tons per annum.

As per the third signed MoU, the Emirati company Alcazar Energy will work on the construction of an industrial complex for producing green hydrogen on an area of 37,000 sqm in Ain Sokhna, with a total capacity of 230,000 tons annually.

Meanwhile, the fourth MoU included the establishment of a plant by the UAE-based KK Power International for the production of 230,000 tons of green hydrogen annually in Ain Sokhna.

Regarding the fifth MoU, MEP Company will make huge investments to build a plant for the production of green hydrogen at the SCZONE, with an annual capacity of up to 120,000 tons.

According to the sixth MoU, the Indian group ACME will set up a plan for the production of green fuel in Ain Sokhna, with a total production capacity of up to 2.2 million tons per annum.

Under the seventh MoU, the UK-based Actis Group is set to build an industrial complex for the production of green hydrogen and ammonia, with a total annual capacity of 200,000 tons.