{"id":79400,"date":"2024-07-01T00:00:00","date_gmt":"2024-07-01T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2024\/07\/01\/the-egypt-eu-investment-summit-brings-big-export-potential-for-egypt\/"},"modified":"2024-07-01T00:00:00","modified_gmt":"2024-07-01T00:00:00","slug":"the-egypt-eu-investment-summit-brings-big-export-potential-for-egypt","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2024\/07\/01\/the-egypt-eu-investment-summit-brings-big-export-potential-for-egypt\/","title":{"rendered":"The Egypt-EU Investment Summit brings big export potential for Egypt"},"content":{"rendered":"

Egypt inks a bunch of agreements for green hydrogen export: <\/strong>European firms inked a spate of agreements with Egyptian counterparts during the two-day Egypt-EU Investment Conference<\/a> that wrapped yesterday. Renewable energy and green hydrogen took center stage, unsurprisingly as the country\u2019s ambitions to transform into a regional hub for green hydrogen<\/a> production by 2026 and a global hub by 2030 are a focal point of President Abdel Fattah El Sisi\u2019s third term. The country aims to produce 3.2 mn tons of green hydrogen per year by 2029 and 9.2 mn tons per year by 2040.<\/p>\n

LINING UP EXPORTS-<\/p>\n

#1- Deme heads to the Port of Gargoub: <\/strong>An international consortium led by Belgian energy firm Deme Group<\/a> will set up a green hydrogen and green ammonia plant in the Port of Gargoub\u2019s industrial zone after the firm inked an agreement with the New and Renewable Energy Authority (NREA) and the Alexandria Port Authority, according to separate statements here<\/a> and here (pdf)<\/a>. The project will be carried out in three phases at a total cost of EUR 24 bn \u2014 the first phase will see the company pour investments of EUR 3 bn to produce 320k tons of green ammonia a year. \u201cThe wind and solar renewable power generation infrastructure will be located 70 km southwest of Gargoub and it will be connected to the production facility via a dedicated high-voltage power line,\u201d the statement notes<\/p>\n

#2- A USD 10 bn green ammonia project in East Port Said:<\/strong> The Sovereign Fund of Egypt (SFE and DAI Infrastructure<\/a> signed a USD 10 bn agreement to set up a green ammonia project at East Port Said, DAI Infrastructure Vice Chairman Mourad Sami told Enterprise. Dubbed Ra, the project will include a USD 4.4 bn ammonia facility and a USD 5 bn renewable energy facility to power the ammonia plant, Sami added. Once fully operational, the East Port Said facility will have a production capacity of 2 mn tons per year and is expected to bring in USD 2 bn each year, Sami told us, adding that DAI will break ground on the project in Q1 2026.<\/p>\n

Who else is on the project? <\/strong>Several European groups and financial institutions, including Greek shipping firm Naftomar<\/a> \u2014 which will provide shipping services and offtake some of the project\u2019s production \u2014 are co-investors with DAI on the project, according to Sami. Sami confirmed to Enterprise that most of the funds will be secured from the US and Europe, with Allianz credit ins. subsidiary Euler Hermes<\/a> providing export credit agency coverage.<\/p>\n

#3- A EUR 7 bn plant by EDF + Zero Waste:<\/strong> France's EDF Renewables<\/a> and Egyptian-Emirati firm Zero Waste will set up a EUR 7 bn three-phase green hydrogen and ammonia project near Hurghada at Ras Shoukair Port, according to a statement<\/a>. The EUR 2 bn first phase of the project aims to produce 1 mn tons of green ammonia annually with the production earmarked to supply ships with green fuels and for exports. The project will also include the financing and development of a new 400 meter shipping dock and a seawater desalination unit to feed all stages of the project.<\/p>\n

#4- A lot more green ammonia for Ain Sokhna:<\/strong> Abu Dhabi-headquartered Ocior Energy<\/a> has inked a USD 4.3 bn agreement with the SFE to develop a green ammonia plant at the Port of Ain Sokhna, according to a statement<\/a>. The plant will primarily cater to European markets, addressing the growing demand for sustainable ammonia. <\/p>\n

#5- Green ammonia production in Damietta: <\/strong>The Egyptian Petrochemical Holding Company and Misr Fertilizer Production Company (Mopco) are partnering with Norwegian firms Scatec and Yara International<\/a> to set up a green ammonia plant in Damietta with initial investments of some USD 890 mn, according to a statement<\/a>. The parties will produce around 150k tons of green ammonia annually in Mopco\u2019s factories before selling it to Norway\u2019s Yara. A seawater desalination plant and a maritime terminal will be set up to export the green ammonia with operations expected to begin in 2027. <\/p>\n","protected":false},"excerpt":{"rendered":"

Many of the agreements have production quotas pegged for export + include port terminal development<\/p>\n","protected":false},"author":1,"featured_media":79401,"comment_status":"","ping_status":"open","sticky":false,"template":"","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":[41],"tags":[49,37,32],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-79400","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-trade","tag-egypt","tag-ports","tag-trade","wpautop","entry"],"acf":{"mongo_id":"e7d3e1a1-ce75-4e68-af8c-20a3ca2c4284","order":"4","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/7\/41.jpg","photo_position":"above","homepage_title":"","full_issue_title":"The Egypt-EU Investment Summit brings big export potential for Egypt","related_issue":[79393],"teaser":"Many of the agreements have production quotas pegged for export + include port terminal development","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/7\/.c05847c8-6741-4ffb-9cdb-2a3a6e1792e9.mp3"},"yoast_head":"\nThe Egypt-EU Investment Summit brings big export potential for Egypt - 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