SCZONE signs $14.75B energy projects with Chinese companies
Updated 10/17/2023 10:55:00 AM
Arab Finance: The Suez Canal Economic Zone (SCZONE) has signed a framework agreement with the green fuel producer China Energy to produce 1.2 million tons of green ammonia and 210,000 tons of green hydrogen a year with $6.75 billion in investments, a statement revealed.
The project is set to be established on a 500,000-square-meter area in Sokhna Industrial Zone.
This came on the sidelines of the two-day Belt and Road Forum held in China on October 16th.
Another agreement was sealed between the SCZONE and the Chinese United Energy to set up a potassium chloride production park over three phases with investments of up to $8 billion.
To be powered by 6.1-gigawatt (GW) renewable energy plants, the project aims to produce 4.1 million tons of potassium chloride.
The project’s first phase is set to produce 100,000 tons of potassium chloride, to be powered by 150-megawatt (MW) renewable energy plants. 20% of the project’s production will be supplied to the local market.
On a related note, Cairo Airport Company has inked an agreement with the construction and engineering company China Gezhouba to cooperate on the development of Cairo Cargo City at Cairo International Airport.
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