Energy China will within two months sign a framework agreement to build a green hydrogen plant in the Suez Canal Economic Zone (SCZone), the zone said in a statement yesterday. The plant is set to produce some 1.2 mn tons of green ammonia and 210k tons of green hydrogen annually, the statement reads. The company mentioned the plans in a meeting with SCZone CEO Walid Gamal El Din, who is leading a delegation in China and Hong Kong this week to promote investment in the zone.

Changing costs: The SCZone yesterday pegged the cost of the project at USD 7 bn, significantly above the initial USD 5.1 bn figureannounced by the Madbouly government in February.

Background: Energy China signed the initial MoU to conduct a feasibility study on the plant in December.

That’ll make 10: The government signed framework agreements for nine green hydrogen plants on the sidelines of last year’s COP27 climate summit. The projects would collectively require USD 83 bn of investment to complete, it said at the time.

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China-Africa Development Fund backing? The SCZone delegation met with China-Africa Development Fund Chairman Song Lei, who expressed the fund’s readiness to fund Chinese projects wanting to invest in Egypt’s economic zones especially those working in green hydrogen, the SCZone said in a statement. The delegation also held talks with the head of the pharma group Gan & Lee and a number of manufacturers working in readymade garments, textile exports, and pharma production.

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