{"id":595568,"date":"2023-08-09T00:00:00","date_gmt":"2023-08-09T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/08\/09\/another-green-hydrogen-plant-in-the-works\/"},"modified":"2023-08-09T00:00:00","modified_gmt":"2023-08-09T00:00:00","slug":"another-green-hydrogen-plant-in-the-works","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/08\/09\/another-green-hydrogen-plant-in-the-works\/","title":{"rendered":"Another green hydrogen plant in the works?"},"content":{"rendered":"

Good morning, wonderful people, and a very happy almost-THURSDAY. <\/strong>The news cycle is continuing to serve summer slowdown vibes. <\/p>\n

THE BIG STORY here at home this morning: <\/strong>It\u2019s another calm day in a calm week for news on the local front. We bring you all the salient details of Egytrans\u2019 acquisition of NOSCO, Midea Group\u2019s USD 25 mn washing machine factory in the SCZone, and Flat6Labs\u2019 new accelerator for startups in contech (that\u2019s construction tech for the uninitiated among you) <\/p>\n

<\/a> ALSO- Drawing a line under the Suez Canal <\/strong>tugboat<\/a><\/strong> accident: <\/strong>The Suez Canal Authority (SCA) has finished recovering the wreckage of the tugboat that sank in the canal on Saturday, the authority said in a statement<\/a> yesterday. The recovery efforts didn\u2019t affect navigation in either direction of the canal, the statement reads. One crew member died at the weekend when the tugboat collided with Hong-Kong oil tanker Chinagas Legend. <\/p>\n

WATCH THIS SPACE- <\/strong><\/p>\n

<\/a> Yet another green hydrogen project? <\/strong>An unnamed foreign company has made an offer to the government to establish a green hydrogen plant in Egypt, according to a cabinet statement<\/a> yesterday. The plant would be powered by 15 GW of solar energy and export USD 1 bn (400k tons) of green hydrogen annually, all of it to Europe, the statement reads. A plot has already been chosen for the plant and the unnamed firm will now look to carry out feasibility studies. The statement didn\u2019t give the initial investment cost or planned timeline. <\/p>\n

REMEMBER- We\u2019re big on green hydrogen: <\/strong>The government signed framework agreements for nine green hydrogen plants worth USD 83 bn on the sidelines of last year\u2019s COP27 climate summit and has at least two more agreements<\/a> in the works.<\/p>\n

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The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n

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There\u2019s once again no single BIG STORY ABROAD dominating the front pages this morning. <\/strong>Among the top headlines: <\/p>\n

<\/a> July was the hottest month in history: <\/strong>Last month was officially deemed the hottest month ever recorded, breaking the previous record set in July 2019 by 0.3\u00b0C, according to data by the European earth observation agency. Blazing temperatures last month caused a rapid melting of Antarctic sea ice, heatwaves across large swathes of the globe, and wildfire outbreaks in countries including Greece. (Financial Times<\/a> | Bloomberg<\/a> | Wall Street Journal<\/a>)<\/p>\n

From the business pages: Mns of people don\u2019t find Altman\u2019s crypto identity-checker creepy. <\/strong>Over 2.2 mn people have so far signed up to Worldcoin<\/a>, Sam Altman\u2019s new \u201cidentity and financial network,\u201d Reuters<\/a> reports. Users have to agree to have their irises scanned for a digital ID in order to join, in a bid to create a reliable way to authenticate \u201cpersonhood\u201d online in the world of ever-smarter AI that Altman\u2019s ChatGPT has helped usher in. <\/p>\n

CIRCLE YOUR CALENDAR- <\/strong><\/p>\n

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The Enterprise Finance Forum is taking place on 18-19 <\/strong> September at the St. Regis Hotel in Cairo. <\/strong> This flagship forum is the latest in our must-attend series of invitation-only, C-suite-level gatherings that allow senior members of our community to openly and frankly discuss critical issues in key sectors of the economy. <\/p>\n

TAP OR CLICK HERE<\/a><\/strong> if you want to express interest in attending. We\u2019ll be sending out the first batch of invitations soon. <\/p>\n

Do you want to become a commercial partner? <\/strong> Ping a note to Moustafa Taalab, our head of commercial<\/a>, or fill out this form<\/a> and we\u2019ll be in touch.<\/p>\n

Check out our full calendar on the web<\/a><\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p>\n

LISTEN TO OUR PODCAST- <\/strong><\/p>\n

MISSED THE ENTERPRISE EXPORTS AND FDI FORUM? <\/strong>The Enterprise<\/a><\/strong>Podcast has you covered<\/a><\/strong> : <\/strong> The Enterprise Podcast\u2019s forum series has been bringing you audio recordings of what was said on stage at the Enterprise Exports and FDI Forum,which took place in May. Throughout, we learned lessons from some of Egypt\u2019s biggest exporters on how Egypt can export its way out of a crisis. We heard everything from how to build an exports and FDI strategy, to identifying a foreign partner and tapping into a global supply chain. <\/p>\n

WANT TO LISTEN? Head to: <\/strong>Apple Podcast<\/a> | Spotify<\/a> | Google Podcast<\/a> | Anghami<\/a>.<\/p>\n

IT\u2019S THE FINAL EPISODE- <\/strong>Our final panel of the day was, naturally, the most forward looking. Our panelists discussed how the companies \u2014 be they in age-old industries or emerging ones \u2014 have adapted to changes to better position their businesses for an uncertain future. We were joined by Nadia El Tawil, <\/strong> investment officer at pan-African private equity firm AfricInvest, Mostafa Bedair <\/strong>, CEO of Giza Seeds and Herbs, and Abdallah Sallam, <\/strong>CEO of Madinet Masr. <\/p>\n

OUR FORUM SERIES CONTINUES NEXT SUNDAY WITH THE ENTERPRISE CLIMATE <\/strong> FORUM- <\/strong>Fresh off the heels of a successful COP27, we held our first forum to dive deep into the fundamentals of what we think is the world\u2019s most important industry. The conversations ranged from exploring the business opportunities for Egyptian entrepreneurs, companies and startups in climate, to demystifying green hydrogen, and how we finance our green transition. And we did it all in the Grand Egyptian Museum. <\/p>\n

<\/p>\n

*** It\u2019s Hardhat day \u2014 your weekly briefing of all things infrastructure in Egypt: <\/strong> Enterprise\u2019s industry vertical focuses each Wednesday on infrastructure, covering everything from energy, water, transportation, and urban development, as well as social infrastructure such as health and education. <\/p>\n

In today\u2019s issue: <\/strong>We take stock of Egypt\u2019s transport infrastructure investments.<\/p>\n","protected":false},"excerpt":{"rendered":"

An unnamed foreign firm wants to produce green hydrogen here for export to Europe<\/p>\n","protected":false},"author":1,"featured_media":595569,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7204],"tags":[72,254,151,7103,133,74],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-595568","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-what-were-tracking-today","tag-enterpriseam","tag-green-hydrogen","tag-renewables","tag-suez-canal","tag-suez-canal-authority","tag-what-were-tracking-today","wpautop","entry"],"acf":{"mongo_id":"78573c84-1300-45a0-a814-f133d5d4cd83","order":"0","is_powered_by":false,"story_type":"4","photo_url":"https:\/\/ent.news\/2023\/8\/432.jpg","photo_position":"below","homepage_title":"","full_issue_title":"Another green hydrogen plant in the works?","related_issue":[595566],"teaser":"An unnamed foreign firm wants to produce green hydrogen here for export to Europe","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/8\/.a07abf31-c209-45a6-b3e6-1e02a940e4ca.mp3"},"yoast_head":"\nAnother green hydrogen plant in the works? 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The Suez Canal Economic Zone (SCZone) plans to establish an investment company to channel finance into projects being established in the zone, SCZone head Walid Gamal El Din said Saturday, without providing further information.This isn\u2019t the same thing as the Suez Canal Authority\u2019s new fund:\u2026","rel":"","context":"In "Suez Canal"","block_context":{"text":"Suez Canal","link":"https:\/\/enterpriseam.com\/egypt\/category\/data\/suez-canal\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/11\/91.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":542777,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/01\/17\/suez-canal-targets-usd-7-bn-revenues-in-2022\/","url_meta":{"origin":595568,"position":1},"title":"Suez Canal targets USD 7 bn revenues in 2022","author":"enterpriseam admin","date":"17 January 2022","format":false,"excerpt":"Suez Canal revenues are expected to hit USD 7 bn in 2022, up 11.1% from last year, Suez Canal Authority (SCA) boss Osama Rabie said in an interview with Bloomberg Asharq yesterday on the sidelines of Dubai\u2019s Expo 2020 (watch, runtime: 6:25). Canal revenues hit a record USD 6.3 bn\u2026","rel":"","context":"In "Suez Canal"","block_context":{"text":"Suez Canal","link":"https:\/\/enterpriseam.com\/egypt\/category\/data\/suez-canal\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/1\/186.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":548174,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/07\/28\/another-green-hydro-plant-courtesy-of-india\/","url_meta":{"origin":595568,"position":2},"title":"Another green hydro plant, courtesy of India","author":"enterpriseam admin","date":"28 July 2022","format":false,"excerpt":"Egypt, India could establish a USD 8 bn green hydrogen plant: Egyptian government agencies signed an MoU with Indian renewables company ReNew Power to establish a green hydrogen plant in the Suez Canal Economic Zone (SCZone), according to a cabinet statement. The plant will crank out 220k tons of hydrogen\u2026","rel":"","context":"In "Energy"","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":606619,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/09\/19\/sczone-to-borrow-egp-30-bn-to-fund-green-hydrogen-infrastructure\/","url_meta":{"origin":595568,"position":3},"title":"SCZone to borrow EGP 30 bn to fund green hydrogen infrastructure","author":"enterpriseam admin","date":"19 September 2023","format":false,"excerpt":"Part of the loan will be denominated in USD to finance imported components","rel":"","context":"In "DEBT WATCH"","block_context":{"text":"DEBT WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/debt-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/9\/1183.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":546932,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/06\/02\/sczone-signs-initial-agreement-with-h2-industries-for-waste-to-hydrogen-plant\/","url_meta":{"origin":595568,"position":4},"title":"SCZone signs initial agreement with H2 Industries for waste-to-hydrogen plant","author":"enterpriseam admin","date":"2 June 2022","format":false,"excerpt":"A step closer to our first waste-to-hydrogen plant? The Suez Canal Economic Zone (SCZone) has signed an MoU with H2 Industries to establish Egypt\u2019s first waste-to-hydrogen plant in East Port Said, according to a statement. The plant will cost USD 4 bn to establish, the statement said, without disclosing how\u2026","rel":"","context":"In "Energy"","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/6\/109.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":612373,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/12\/21\/acwa-power-to-set-up-a-usd-4-bn-green-hydrogen-plant-in-sczone\/","url_meta":{"origin":595568,"position":5},"title":"Acwa Power to set up a USD 4 bn green hydrogen plant in SCZone","author":"enterpriseam admin","date":"21 December 2023","format":false,"excerpt":"The project first phase of the project will have a production capacity of 600k tonnes of green ammonia","rel":"","context":"In "Energy"","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/12\/1392.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/595568","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=595568"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/595568\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/595566"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/595569"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=595568"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=595568"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=595568"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=595568"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=595568"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}