{"id":82192,"date":"2024-11-06T00:00:00","date_gmt":"2024-11-06T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2024\/11\/06\/today-sczone-plans-usd-3-bn-infrastructure-investment-morocco-eyes-tan-tan-port-for-green-hydrogen-exports\/"},"modified":"2024-11-06T00:00:00","modified_gmt":"2024-11-06T00:00:00","slug":"today-sczone-plans-usd-3-bn-infrastructure-investment-morocco-eyes-tan-tan-port-for-green-hydrogen-exports","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2024\/11\/06\/today-sczone-plans-usd-3-bn-infrastructure-investment-morocco-eyes-tan-tan-port-for-green-hydrogen-exports\/","title":{"rendered":"TODAY: SCZone plans USD 3 bn infrastructure investment + Morocco eyes Tan-Tan port for green hydrogen exports"},"content":{"rendered":"

Good morning, friends. <\/strong>We have a meaty issue for you today with purchasing managers\u2019 indices from across the region, as well as some updates from Egypt, news that the UAE is getting the region\u2019s largest biofuel processing facility, and more. <\/p>\n

THE BIG LOGISTICS STORY ABROAD- <\/strong>Boeing strikers accept company offer:<\/strong> Boeing workers accepted<\/a> a new contract offer<\/a> on Monday, bringing an end to a seven-week strike that halted most jet production and worsened the company\u2019s already existing supply chain issues and delivery<\/a> delays. The worker\u2019s union had endorsed the offer earlier this week, stressing it had gotten all it can from the manufacturer.<\/p>\n

The final call: <\/strong>The union members voted 59% in favor of the new contract, which includes a 38% increase in pay spread over four years. Boeing has said the average annual machinists' pay at the end of the new four-year contract will be USD 119.3k, up from USD 75.6k previously. The pay increase may add USD 1.1 bn to Boeing\u2019s wage bill over the four years, while a USD 12k ratification bonus for each union member could result in another USD 396 mn in outflows. The old pension will not be restored, but workers received a boost to company matching contributions for their 401k plans.<\/p>\n

So, what\u2019s next? <\/strong>The airplane manufacturer will take weeks to ramp up plane production and boost cash flow. The workers can start returning to developing planes immediately, although Boeing has warned that some people will have to be retrained due to their time away from the factory floor. <\/p>\n

The story grabbed a lot on ink in the int\u2019l press:<\/strong> Bloomberg<\/a> | The Washington Post<\/a> | BBC<\/a> | The Guardian<\/a> | AP News<\/a> | USA Today<\/a> | CBS News<\/a> <\/p>\n

^^ We have everything on this story and more in the news well, below.<\/p>\n

HAPPENING TODAY-<\/p>\n

Adipec<\/a><\/strong> is on its third day today and runs through to tomorrow<\/strong> at Adnec Center in Abu Dhabi. The event \u2014 the biggest oil and gas forum in the world \u2014 brings together over 40 ministers and over 200 C-suite executives and technology leaders from the Middle East, Asia, Africa, Europe, and the Americas, focusing on innovation and partnerships to advance the energy transition. <\/p>\n

\n

WATCH THIS SPACE-<\/p>\n

<\/a>#1- <\/strong>SCZone plans USD 3 bn infrastructure investment:<\/strong> The Suez Canal Economic Zone (SCZone) plans to invest USD 3 bn on infrastructure projects over the coming few years as it looks to attract investors, SCZone head Walid Gamal El Din told Al Arabiya<\/a>. The investment will mirror the USD 3 bn invested over the past few years. <\/p>\n

Among the new projects: A desalination plant:<\/strong> The authority is developing a new desalination facility in AIn Sokhna dedicated to shared utilities for green hydrogen project, Gamal El Din said. The first phase of the project will produce around 250k cubic meters per day. The authority will soon launch a tender for the project and construction should take 2-4 years.<\/p>\n

<\/a>#2- IN OTHER EGYPT NEWS- <\/strong>Phase II of the Egyptian Cotton Project launches: <\/strong>The Madbouly government and the United Nations Industrial Development Organization (UNIDO) launched the second phase of the Italian Agency for Development Cooperation-funded Egyptian Cotton Project<\/a> which aims to boost sustainability across the local cotton value chain, according to a statement<\/a>. The second phase of the project aims to introduce young cotton farmers to sustainable practices and employ the youth across the cotton value chain. The first phase of the project ran from 2018 to 2021.<\/p>\n

AND- <\/strong>The gov\u2019t is looking to work with Emirati IRH to transport LNG overseas:<\/strong> The Oil Ministry and Emirati mining firm International Resources Holding<\/a> (IRH) are in talks over the possibility of collaborating on liquefied natural gas trade and distribution in a bid to transport gas to foreign markets, according to a ministry statement<\/a>. The talks, which came on the sidelines of the ADIPEC 2024 conference in Abu Dhabi, also saw the two parties exploring areas of cooperation in the mining sector.<\/p>\n

<\/a>#3- <\/strong>Morocco eyes Tan-Tan port for green hydrogen export<\/strong>s:<\/strong> Morocco\u2019s National Ports Agency (ANP) has issued a tender for a feasibility study to position the Tan-Tan port as a green hydrogen hub, North Africa Post<\/a> reports. The port is part of Morocco's green hydrogen initiative, which was launched last March and involves allocating 300k hectares for green hydrogen projects. ANP is looking to leverage the port for green hydrogen exports as well as its derivatives, including ammonia and e-methanol. <\/p>\n

Why Tan-Tan? <\/strong>The port \u2014 based in El Ouatia \u2014 is in close proximity to the Guelmin Oued Noun region, which is eyed by global energy firms, including France\u2019s TotalEnergies. <\/p>\n

There\u2019s been some talk: <\/strong>Morocco and the World Bank were in talks back in January<\/a> to explore the feasibility of building green hydrogen storage, ship refueling, and export-dedicated facilities at the ports of Tan-Tan, Jorf Lasfar, Mohammedia, and Tanger-Med. The study aimed to assess the technical and economic potential for green fuel production at Moroccan ports in a bid to help decarbonize the shipping sector, which accounts for 2.9% of global greenhouse gas emissions.<\/p>\n

\n

MARKET WATCH- <\/p>\n

#1-<\/strong> Oil prices fell early today as the US election got underway<\/strong>, Reuters<\/a> reports. Brent crude futures were down 0.46% to USD 75.18 a barrel, while US West Texas Intermediate was down 0.4% to USD 71.72. <\/p>\n

#2- Baltic index continues to ease:<\/strong> The Baltic Exchange\u2019s dry bulk sea freight index \u2014 which tracks rates for the capesize, panamax, and supramax vessel segments \u2014 rose 2.2% yesterday<\/a>, ending its four-day losing streak. The capesize index gained 118 point, while the panamax index lost four points and the smaller supramax fell 18 points.<\/p>\n

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Get Enterprise<\/b> daily <\/h4>\n<\/p><\/div>\n

The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n

Subscribe here<\/a> <\/div>\n<\/p><\/div>\n<\/p><\/div>\n

***<\/strong>YOU\u2019RE READING EnterpriseAM Logistics, the essential MENA publication for senior <\/strong>execs who care about the industry that connects producers and retailers to global markets. <\/strong>We\u2019re out Monday through Thursday by 9:15am in Cairo and Riyadh and 11:15am in the UAE.<\/p>\n

EnterpriseAM Logistics is available without charge <\/strong>thanks to the generous support of our friends at Hassan Allam Utilities, Transmar, and AK-Ships.<\/p>\n

Were you forwarded this email? <\/strong>Tap or click here<\/a> to get your own copy of Enterprise Logistics.<\/p>\n

Want to send us a story idea<\/strong>, request coverage, ask for a correction, or otherwise get in touch? Reach out to us on logistics@enterprisemea.com<\/a>.<\/p>\n

DID YOU KNOW <\/strong>that we also cover Egypt<\/a>, Saudi Arabia<\/a>, the UAE<\/a>, and the MENA<\/a>climate industry<\/a> ?
***<\/strong><\/p>\n

CIRCLE YOUR CALENDAR-<\/strong><\/p>\n

Saudi Arabia will host the <\/strong>Saudi Airport Exhibition<\/a><\/strong> on Monday, 11 November and <\/strong>Tuesday, 12 November<\/strong> in Riyadh. The two-day exhibition will bring together global industry leaders to discuss the latest technologies around the world in the aviation industry. It looks to encourage discussion between Saudi aviation leaders and the global supply chain industry.<\/p>\n

Bahrain will host <\/strong>The Bahrain International Airshow<\/a><\/strong> on Wednesday, 13 November and <\/strong>Friday, 15 November<\/strong> near Awali. The three-day event is bringing together over 180 participating companies from over 59 represented nations globally.<\/p>\n

Egypt will host the <\/strong>Autotech Exhibition<\/a><\/strong> on Sunday, 17 November until Tuesday, 19 <\/strong>November<\/strong> in Cairo. The event will bring together prominent local and international companies to discuss and evaluate the latest developments and trends in the automotive aftermarket and feeder industries.<\/p>\n

Check out our full calendar<\/strong> at the bottom of this email for a comprehensive listing of upcoming news events and news triggers.<\/p>\n","protected":false},"excerpt":{"rendered":"

What we\u2019re tracking this morning regionally and around the world<\/p>\n","protected":false},"author":1,"featured_media":82193,"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":[18],"tags":[49,415,150,16],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-82192","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-what-were-tracking-today","tag-egypt","tag-kemet-data-center","tag-morocco","tag-what-were-tracking-today","wpautop","entry"],"acf":{"mongo_id":"f382e909-5321-4285-a037-d3efb7d72371","order":"2","is_powered_by":false,"story_type":"4","photo_url":"https:\/\/ent.news\/2024\/11\/487.jpg","photo_position":"above","homepage_title":"","full_issue_title":"TODAY: 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