Egypt and France have signed a cooperation agreement to establish a plant for the production of green hydrogen.
Under the agreement, the two countries will develop, finance, construct, and operate a comprehensive facility near Ras Shokair on the western shore of the Gulf of Suez in eastern Egypt for the production of green hydrogen and its derivatives, including green ammonia, the Egyptian Trade Ministry said in a statement on Tuesday.
It was signed between the Red Sea Ports Authority and the New and Renewable Energy Authority in partnership with the Green Fuel Alliance, which consists of the French company EDF Renewables and the Egyptian-Emirati company Zero Waste.
The three phases of the project will cost $7.68 billion with a total production of 1 million tonnes annually.
The cooperation agreement was inked on the sidelines of French President Emmanuel Macron’s visit to Egypt.
Macron arrived in Cairo on Sunday for a three-day visit for talks with Egyptian officials on bilateral ties and regional developments.
His trip began with a tour of the Grand Egyptian Museum in western Cairo and a walk through its historic streets, especially the Khan el-Khalili bazaar.
Egyptian President Abdel Fattah el Sisi, French President Emmanuel Macron, and Jordan’s King Abdullah II discuss the situation in the Palestinian enclave, 'push for a cessation of Israel’s war on Gaza'.
