{"id":596076,"date":"2023-08-10T00:00:00","date_gmt":"2023-08-10T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/08\/10\/ocior-energy-to-build-usd-4-bn-green-hydrogen-plant-in-sczone\/"},"modified":"2023-08-10T00:00:00","modified_gmt":"2023-08-10T00:00:00","slug":"ocior-energy-to-build-usd-4-bn-green-hydrogen-plant-in-sczone","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/08\/10\/ocior-energy-to-build-usd-4-bn-green-hydrogen-plant-in-sczone\/","title":{"rendered":"Ocior Energy to build USD 4 bn green hydrogen plant in SCZone"},"content":{"rendered":"

Ocior Energy moves ahead with green hydrogen plans: <\/strong> India\u2019s Ocior Energy<\/a> has inked preliminary contracts with the government to set up a USD 4 bn green hydrogen plant in the Suez Canal Economic Zone (SCZone), Yehia El Wathek Bellah, head of the Trade Ministry\u2019s Commercial Representation Authority, told Enterprise. The land for the project has already been allocated, El Wathek Bellah added. <\/p>\n

That adds the missing puzzle piece to news from earlier this week: <\/strong>Ocior Energy was the unnamed foreign company that cabinet on Tuesday said<\/a> had made an offer to establish a green hydrogen plant in the country, El Wathek Bellah told us. 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 cabinet statement reads.<\/p>\n

The timeline: <\/strong> The final contract for the project will be inked within months and execution will take around five to six years, El Wathek Bellah said. The company will invest around USD 4 bn in total to build the project. <\/p>\n

This isn\u2019t the first we\u2019re hearing of the plant: <\/strong> Ocior Energy was among the seven companies and consortiums that in December inked MoUs<\/a> with the government to conduct feasibility studies on projects to produce green hydrogen and its derivatives.<\/p>\n

More where that came from? <\/strong>Among the companies expected to sign investment agreements with Egypt in the near future are India\u2019s ACME<\/a>, Saudi IT firm STME<\/a>, Turkey\u2019s KOC Holding,<\/a> and Ziraat Bank, El Wathek Bellah added.<\/p>\n

REMEMBER- <\/strong>Egypt wants to capitalize on the growing global interest in green hydrogen as a low-carbon energy source by establishing itself as one of the region\u2019s leading suppliers. The government signed nine framework agreements<\/a> for 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. Ministers in May approved a package of incentives aimed at stimulating the nascent industry<\/a> and increasing FX inflows.<\/p>\n","protected":false},"excerpt":{"rendered":"

The plant will take 5-6 years to build, with expected revenues of USD 1 bn annually<\/p>\n","protected":false},"author":1,"featured_media":596077,"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":[7207],"tags":[93,72,246,254,151],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-596076","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-energy","tag-energy","tag-enterpriseam","tag-green-economy","tag-green-hydrogen","tag-renewables","wpautop","entry"],"acf":{"mongo_id":"c0c2f551-bf04-4f24-a118-9f79bec72e20","order":"0","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/8\/475.jpg","photo_position":"below","homepage_title":"","full_issue_title":"Ocior Energy to build USD 4 bn green hydrogen plant in Egypt","related_issue":[596071],"teaser":"The plant will take 5-6 years to build, with expected revenues of USD 1 bn annually","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/8\/.4abb816b-2c39-46e9-9b28-2388ffa40b6d.mp3"},"yoast_head":"\nOcior Energy to build USD 4 bn green hydrogen plant in SCZone - 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THE BIG STORIES TODAY #1- Ocior Energy proceeds with green hydrogen plans: 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 reports,\u2026","rel":"","context":"In "WHAT WE\u2019RE TRACKING TONIGHT"","block_context":{"text":"WHAT WE\u2019RE TRACKING TONIGHT","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-tonight\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/12\/5975.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":577888,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/12\/08\/we-could-be-getting-even-more-green-hydrogen-projects\/","url_meta":{"origin":596076,"position":1},"title":"We could be getting even more green hydrogen projects","author":"enterpriseam admin","date":"8 December 2022","format":false,"excerpt":"More green hydrogen momentum: Egypt signed MoUs with seven companies and consortiums to conduct feasibility studies on new projects to produce green hydrogen and its derivatives, according to a cabinet statement. The statement does not provide further details on the potential investment size, production capacity, or timeline for any of\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\/12\/154.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":640570,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/08\/28\/india-is-looking-into-setting-up-a-usd-60-mn-carbon-black-factory-in-egypt-2\/","url_meta":{"origin":596076,"position":2},"title":"India is looking into setting up a USD 60 mn carbon black factory in Egypt","author":"enterpriseam admin","date":"28 August 2024","format":false,"excerpt":"Local officials met with representatives from major Indian companies working in the carbon black, green hydrogen, furnishings, and automotive industries","rel":"","context":"In "Investment Watch"","block_context":{"text":"Investment Watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/investment-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/8\/2415.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":587248,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/05\/24\/energy-china-to-ink-framework-agreement-for-green-hydrogen-plant-by-july\/","url_meta":{"origin":596076,"position":3},"title":"Energy China to ink framework agreement for green hydrogen plant by July","author":"enterpriseam admin","date":"24 May 2023","format":false,"excerpt":"The plant will produce 1.2 mn tons of ammonia and 210k tons of hydrogen","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\/5\/1326.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":596076,"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":548174,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/07\/28\/another-green-hydro-plant-courtesy-of-india\/","url_meta":{"origin":596076,"position":5},"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":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/596076","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=596076"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/596076\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/596071"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/596077"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=596076"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=596076"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=596076"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=596076"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=596076"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}