The first phase of Belgium's DEME's investments in Egypt's Gargoub Port green hydrogen project will be worth of $3 billion, Egypt's cabinet announced on Wednesday.

CEO Luc Vandenbulcke said DEME is interested in expanding green hydrogen projects in Egypt in a meeting with Egypt's Prime Minister Mostafa Madbouly, the cabinet said in a statement.

The project will be developed in three phases, it added.

 

(Reporting by Momen Saeed Atalla, writing by Ahmed Elimam; editing by Jason Neely)