{"id":612337,"date":"2023-12-20T00:00:00","date_gmt":"2023-12-20T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/12\/20\/this-evening-acwa-signs-usd-4-bn-agreement-to-set-up-a-green-hydrogen-project\/"},"modified":"2023-12-20T00:00:00","modified_gmt":"2023-12-20T00:00:00","slug":"this-evening-acwa-signs-usd-4-bn-agreement-to-set-up-a-green-hydrogen-project","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/12\/20\/this-evening-acwa-signs-usd-4-bn-agreement-to-set-up-a-green-hydrogen-project\/","title":{"rendered":"THIS EVENING: ACWA signs USD 4 bn agreement to set up a green hydrogen project"},"content":{"rendered":"

Good afternoon, ladies and gentlemen, and happy almost-Thursday. <\/strong>The end of fall weather seems to have swept through Om El Donia as we wrap our scarves a little tighter today and prepare for the end of year slump. <\/p>\n

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

ACWA inks agreement for USD 4 bn ammonia project: <\/strong>Egypt signed a USD 4 bn framework agreement with Saudi Arabia\u2019s ACWA Power to develop a green hydrogen project that will produce 600k tons of green ammonia annually in its first phase, a cabinet statement<\/a> said. <\/p>\n

The agreement marks ACWA\u2019s fifth green energy project in Egypt,<\/strong> with others including a 200 MW Kom Ombo solar power plant<\/a> and a USD 1.5 bn, 1.1 GW wind farm in the Gulf of Suez that ACWA Power and Hassan Allam expect to break ground<\/a> early next year.<\/p>\n

Details underway:<\/strong> A work plan will now be drawn up for the project, the statement said, and will aim to increase production capacity to 2 mn tons of ammonia annually in its second phase. The statement did not disclose the expected timeline for the project.<\/p>\n

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

Trump\u2019s<\/strong> presidential run is at stake and it\u2019s making headlines in the international press,<\/strong> and we cover the details in our commute story below. <\/strong>Meanwhile,the Yemeni-based Houthi\u2019s are still in the news, as their attacks impact Red Sea cargo and global trade. Now that ships are diverting about USD 35 bn in cargo<\/a> to the much longer route around the Cape of Good Hope \u2014 adding about USD 1 mn<\/a> in fuel costs insurance \u2014 freight and oil prices are on the rise. Global oil benchmark Brent crude futures rose 1.1% and US West Texas Intermediate crude rose 1.3%, according to Reuters<\/a>. Companies are now considering rail and air shipments to support the waterway that accounts for 12% of global trade, says Bloomberg<\/a>.<\/p>\n

Remember:<\/strong> The Suez Canal is the most important route<\/a> between Asia and Europe for trade, especially for oil and LNG. <\/p>\n

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WHO YOU ARE-<\/strong> We're looking for gifted storytellers with a minimum of four years of work experience in investor relations, finance, banking, economics, or a related field to develop cutting-edge products and maintain relationships with a portfolio of clients. Candidates should have a bachelor's degree or higher in finance, accounting, economics, business administration, or a related discipline. We're looking for someone whose passion for storytelling is matched with strong analytical and problem-solving skills, as well as the ability to interpret and present financial data \u2014 with a keen eye for details and accuracy. <\/p>\n

INTERESTED IN APPLYING?<\/strong> To apply for the position, drop us a line at jobs@enterprisemea.com and mention \u201cEnterprise Advisory\u201d in your subject line. Please send a solid cover letter telling us a bit about who you are and why you\u2019re a good fit for our team. We want to see your CV, but the most important thing is a cover letter that makes us want to pick up the phone and give you a call.<\/p>\n

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