{"id":672827,"date":"2025-10-01T00:00:00","date_gmt":"2025-10-01T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2025\/10\/01\/acwa-to-break-ground-on-its-sczone-green-hydrogen-project-next-year\/"},"modified":"2025-10-01T00:00:00","modified_gmt":"2025-10-01T00:00:00","slug":"acwa-to-break-ground-on-its-sczone-green-hydrogen-project-next-year","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2025\/10\/01\/acwa-to-break-ground-on-its-sczone-green-hydrogen-project-next-year\/","title":{"rendered":"Acwa to break ground on its SCZone green hydrogen project next year"},"content":{"rendered":"

Good morning, all, and welcome to October. <\/strong>While we have a brisk issue to kick off the month, we suspect the coming weeks will be anything but with an IMF mission landing in Cairo soon for the fifth and sixth reviews of our loan program, the House back in session, and the CBE meeting to review rates within days. <\/p>\n

IN TODAY\u2019S ISSUE- <\/strong>The Planning Ministry is out with the latest figures for last fiscal year, detailing growth and the biggest factors contributing to it; we have more on the upcoming fuel price hike; and yet another Turkish project is coming to the Qantara West Industrial Zone, this time a USD 40 mn recycling plant. <\/p>\n

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PSA- <\/p>\n

Attention executive<\/strong>s, today is your last chance to <\/strong>apply<\/a><\/strong> for the Onsi Sawiris <\/strong>School of Business\u2019 <\/strong>Executive MBA program<\/a><\/strong>.<\/strong> The program offers senior executives, entrepreneurs, and professionals the chance to hone their leadership skills, learn how to drive real strategic change in their organizations, and gain a new global perspective on business. The 20-month program tailored for working professionals is set to kick off in mid-October.<\/p>\n

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WEATHER- <\/strong>It\u2019s another cool day in Cairo, with the capital looking at a high of 32\u00b0C and a low of 21\u00b0C, according to our favorite weather app.<\/p>\n

It\u2019s a little cooler in Alexandria<\/strong>, with a high of 30\u00b0C and a low of 22\u00b0C.<\/p>\n

WATCH THIS SPACE- <\/p>\n

<\/a> #1- Acwa to break ground on its green hydrogen project next year?<\/strong> Saudi renewables giant Acwa Power plans to start working on its green hydrogen project in the Suez Canal Economic Zone by mid-2026, Executive Business Development Director Ayman Fayek told Hapi Journal<\/a>. The project is still in the study phase, he said.<\/p>\n

REMEMBER- <\/strong>It was lastly reported<\/a> that Acwa expects to complete the first, USD 4 bn portion of its green hydrogen project in the SCZone by 4Q 2028. Under the framework agreement<\/a> inked in 2023, the company will invest at least USD 4 bn in the first phase of the project, which will have a production capacity of 600k tons of green ammonia annually. The second phase of the project will add another 2 mn tons of green ammonia to the plant\u2019s production capacity.<\/p>\n

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<\/a> #2-<\/strong> Telecoms giant Telecom Egypt is mulling merging its tower network with <\/strong>two other mobile operators to lure in international investments<\/strong>, Al Borsa<\/a> reports, citing unnamed sources. The company reportedly believes that the larger network of towers would be able to bring in much larger bids, after previous bids for its tower portfolio fell short of expectations.<\/p>\n

REMEMBER- <\/strong>The state-owned company received several non-binding offers<\/a> for its tower portfolio back in 2023, with three bidders reportedly competing to buy the majority of Telecom Egypt\u2019s cell towers in a sale and leaseback agreement that could\u2019ve been worth between USD 150-250 mn. Unconfirmed reports last year also claimed that the company was in advanced talks with the National Telecom Regulatory Authority<\/a> to expand the legal framework to allow unregulated companies to own cell towers.<\/p>\n

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#3- <\/strong>Chinese and Turkish steel sheet exporters are still not off the hook <\/strong>over <\/strong>dumping allegations<\/strong>, with the Investment Ministry extending its year-long anti-dumping investigation by another six months, according to a decision published in the Official Gazette. The investigation into cold-rolled, galvanized, and coated steel sheets originating in or exported from China and Turkey will now run for a total of 18 months and wrap up by the end of April.<\/p>\n

The news follows a <\/strong>raft of incentives for the three types of steel sheets<\/a><\/strong> announced last <\/strong>week<\/strong>, courtesy of the Industry Ministry, which said it was seeking to expand Egypt\u2019s industrial base, cut reliance on imports, and boost exports. Also helping local producers are recently introduced safeguard tariffs<\/a>, with an 11.1% tariff on cold-rolled steel, a 12.6% levy on galvanized steel sheets, and a 4.9% charge on colored steel sheets coming into effect last month.<\/p>\n

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<\/a> #4- Carbon bonds for GEM?<\/strong> The environment and tourism ministries are coordinating with the Grand Egyptian Museum\u2019s management to issue carbon bonds once it receives all required international emissions certifications, a government source told EnterpriseAM. <\/p>\n

Africa\u2019s first green museum:<\/strong> The museum had secured an Edge Advanced Green Building<\/a>Certification<\/a> from the IFC, making it the first green museum in Africa and the Middle East. It also aims to become the world\u2019s first museum to achieve zero carbon certification<\/a>.<\/p>\n

NEWS TRIGGERS-<\/p>\n

<\/a> It\u2019s th<\/strong>e first work day of October \u2014 <\/strong>and there\u2019s a long list of key news triggers to keep your eyes on this month:<\/p>\n