Agency. Egypt and France signed a 7 billion euro (7.64 billion US dollar) deal on Tuesday to establish an integrated complex for green hydrogen and ammonia production in Ras Shuker on Egypt’s Red Sea coast.
The deal was signed between Egypt’s Red Sea Port Authority and the New and Renewable Energy Authority, in partnership with the Green Fuel Alliance, which is made up of France’s EDF Renewables and Egypt-UAE firm Zero Waste.
The deal was signed during French President Emmanuel Macron’s visit to Egypt and was witnessed by ministers from both countries, including Egypt’s Deputy Prime Minister for Industrial Development and Minister of Industry and Transport Kamel El Wazir and French Finance Minister Eric Lombard. .
The three-phase project aims to produce 1 million tonnes of green ammonia per year. The first phase, scheduled to start production in 2029, aims to produce 300,000 tonnes per year. This involves a direct investment of 2 billion euros. A private sector consortium will fully finance the total investment of 7 billion euros.
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