Egypt inks $33B green ammonia deals with European developers
Updated 7/1/2024 5:42:00 AM
Arab Finance: The Sovereign Fund of Egypt (TSFE) has signed four agreements worth a total of $33 billion with European developers for the production of green ammonia, as per a statement on June 30th.
The first agreement, worth $11 billion, has been signed with Dai Infrastructure Company to establish a green ammonia project in East Port Said Port.
The second agreement, valued at $4.25 billion, has been penned with Ocior Energy to set up a green ammonia project in Sokhna Port, targeting European markets.
The third agreement is worth $3.46 billion and has been inked with TAQA Arabia and Voltalia for a green ammonia project in Sokhna Port.
The fourth agreement has been signed with bp, Masdar, Hassan Allam Utilities, and Infinity Power for a green ammonia project in Sokhna Port at a total cost of $14 billion.
This came during the second and final day of the Egypt-EU Investment Conference.
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