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$8bn green hydrogen aspirations on the Suez Canal
$8bn green hydrogen aspirations on the Suez Canal

$8bn green hydrogen aspirations on the Suez Canal

The General Authority for Suez Canal Economic Zone (SCZONE) and the Indian-based ReNew Power have unveiled $8bn plans to produce 220,000 tonnes of green hydrogen annually.

The $8bn green hydrogen production project has been outlined in a signed memorandum of understanding (MoU) between the SCZONE, and the Indian renewables company, ReNew Power.

Under the MoU, revealed on Wednesday (July 28), SCZONE and ReNew plan to establish an industrial complex aimed at producing 220,000 tonnes of green hydrogen and one million tonnes of green ammonia, in the Sokhna integrated Zone of the Suez Canal, Egypt.

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