The Egyptian-European Investment Conference proved to be a fruitful platform for Egypt’s green ammonia industry as it witnessed the signing of two significant contracts. The first agreement was with the Norwegian company Scatec, while the second was with Yara Clean Ammonia for a 20-year agreement to purchase green ammonia from the Damietta Ammonia Project.
During the conference, Prime Minister Dr. Mostafa Madbouly met with key stakeholders involved in the agreements, including the CEOs of Scatec and Yara Clean Ammonia, as well as other government officials and foreign dignitaries. The Egypt Green Hydrogen Alliance, led by Scatec, successfully signed the contracts and will now develop, build, and operate a green hydrogen production station in the Suez Canal Economic Zone.
The project aims to produce 13,000 tons of green hydrogen annually, which will be converted into about 70,000 tons of ammonia using renewable energy sources. The total investment for the project is estimated at $500 million and includes the construction of solar and wind energy production stations with a capacity of 270 megawatts.
Minister of Petroleum and Mineral Resources, Eng. Tarek El Molla, highlighted the confidence in this project and Egypt’s favorable investment climate during his speech at the conference. He emphasized that these agreements demonstrate Egypt’s commitment to diversifying its energy portfolio and reducing its carbon footprint through cleaner forms of energy production.
