Egypt's Suez Canal Economic Zone (SCZone) and Denmark-based global container logistics giant Maersk are in discussions to implement green methanol and green ammonia projects in the country.

SCZone said in a press statement that the two sides have agreed to sign a memorandum of understanding (MOU) to explore potential areas of collaboration and partnerships. 

Yehia Zaki, Chairman of SCZone said the Zone has positioned itself as a hub for green hydrogen production and green fuel bunkering through its integrated port and industrial zones in Ain Sokhna and East Port Said.

On Thursday, 10 March, Maersk had announced that it has signed strategic partnerships with six companies with the intent of sourcing at least 730,000 tonnes/year of green methanol by end of 2025 through projects in China, North and South America. The green fuel would be used to power Maersk's fleet of 12 ships, each of 16,000 TEU capacity, being built by South Korea's Hyundai Heavy Industries. The first vessel is scheduled to be in operation at the beginning of 2024.

(Writing by Eman Hamed; Editing by Anoop Menon)