Egypt, EU signs green ammonia agreement valued at USD 33 bln

Egypt signed on Sunday four agreements in the field of green ammonia, between the Egyptian Sovereign Fund and European developers, with investments valued at USD 33 billion. This came in a statement by the Egyptian council of ministers, on the sidelines of the Egyptian-EU investments conference held in Cairo, with the attendance of the Egyptian Prime Minister Dr. Mostafa Mabdouly. Chairman of the General Authority of Suez Canal Economic Zone Waleed Gamaleldien, CEO of the Sovereign Fund Ayman Sulaiman, CEO of the New and Renewable Energy Authority Dr. Moahmmad Al-Khayyat signed several agreements. The statement added that Chairman of the General Authority of Suez Canal Economic Zone staid that the agreements reflects on the growing interest in Cairo from international investors which affirms the trust in Egyptian economy. On his part, the Egyptian Prime Minister Mostafa Madbouly witnessed the signing of establishing an international center of green hydrogen at Nile University, with the attendance of Egypt ian Minister of Higher Education and Scientific Research Ayman Ashour. Ashour added that the aim of the center is to strengthen the country's efforts in the field of renewable energy and green hydrogen, stressing the importance of funding projects in this field, which benefits the Egyptian economy. Source: Kuwait News Agency