{"id":596043,"date":"2023-08-09T00:00:00","date_gmt":"2023-08-09T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/08\/09\/this-evening-indias-ocior-energy-moves-forward-with-green-hydrogen-plans-in-egypt\/"},"modified":"2023-08-09T00:00:00","modified_gmt":"2023-08-09T00:00:00","slug":"this-evening-indias-ocior-energy-moves-forward-with-green-hydrogen-plans-in-egypt","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/08\/09\/this-evening-indias-ocior-energy-moves-forward-with-green-hydrogen-plans-in-egypt\/","title":{"rendered":"THIS EVENING: India\u2019s Ocior Energy moves forward with green hydrogen plans in Egypt"},"content":{"rendered":"

Good afternoon, ladies and gents, and happy almost-THURSDAY. <\/strong><\/p>\n

THE BIG STORIES TODAY <\/strong><\/p>\n

#1- Ocior Energy proceeds with green hydrogen plans: <\/strong> India\u2019s Ocior Energy has inked preliminary contracts with the government to set up a USD 4 bn green hydrogen plant in the Suez Canal Economic Zone (SCZone), Asharq Business<\/a> reports, citing Yehia El Wathek Bellah, head of the Trade Ministry\u2019s Commercial Representation Authority. The remaining contracts will be finalized in the coming months and execution will take place in the coming six years, according to El Wathek Bellah. The Indian company was among the seven companies and consortiums that in December inked MoUs<\/a> with the government to conduct feasibility studies on new projects to produce green hydrogen and its derivatives.<\/p>\n

#2- <\/strong> GAFI\u2019s new digital platform gets its first trial: <\/strong> A new company, Damietta Green Ammonia, was established virtually today through the General Authority for Freezones and Investments\u2019 (GAFI) new digital platform, according to a cabinet statement<\/a>. The new platform, which GAFI boss Hossam Heiba announced earlier this week<\/a>, will provide investors with the services to establish companies, authenticate contracts at notary offices, and register using electronic signatures among other services.<\/p>\n

THE BIG STORY ABROAD <\/strong><\/p>\n

China has stepped into deflation territory: <\/strong> China\u2019s consumer price index fell 0.3% y-o-y in July, while year-to-date inflation is at 0.5% \u2014 far below the government\u2019s annual inflation target of 3%. The country\u2019s deflationary trend, which comes as many other countries grapple with persistently sticky inflation, was attributed to weaker local consumer demand after lifting covid-19 restrictions. Financial Times<\/a> | Wall Street Journal<\/a> | Reuters<\/a> <\/p>\n

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** CATCH UP QUICK <\/strong> on the top stories from today\u2019s EnterpriseAM <\/strong>:<\/p>\n