Egypt’s Suez Canal Economic Zone (SCZONE) and H2 Industries signed a memorandum of understanding (MoU) costed $4 billion to build a waste to hydrogen facility, SCZONE’s statement announced on Wednesday.
The project will located at a greenfield site in east Port Said, where the port next to the industrial and logistical areas, which facilitates the operations of ship supplying and export purposes for foreign markets.
The facility targets production capacity of 300,000 tons of green hydrogen annually, according to the statement.
The agreement signed by Yehia Zaki, chairman of SCZONE and Michael Stusch, CEO of H2 Industries.
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“The establishment of this first station of its kind to convert waste into green fuel in Egypt is the beginning of the company’s expansion in the Middle East and North Africa,” Stusch, said.
He added that converting green hydrogen into clean fuel is a promising market coincides with the global transformation of the green economy and reduces carbon emissions, especially for the aviation sector. The plant expected to absorb about 4 million tons of waste per year.
