Egypt is set to finalize agreements worth $16 billion in investments with two prominent Indian companies, ACME Group and Ocior, for the development of green hydrogen projects, according to Yehia Al-Wathiq Bellah, Chairman of the Egyptian Commercial Service.
In late August, Egypt entered into a memorandum of understanding (MoU) with ACME Group to establish a green hydrogen industrial complex spanning 4.5 million square meters in Ain El-Sokhna. This ambitious project aims to produce an impressive 2.2 million tons of green hydrogen annually and carries an investment value of $12 billion.
Earlier in August, Ocior Energy unveiled plans to invest up to $4 billion in green hydrogen production within the Suez Canal Economic Zone (SCZone).
These substantial agreements underscore Egypt’s commitment to expanding its presence in the green hydrogen sector, a crucial component of the nation’s sustainable energy strategy. The investments also represent a significant step toward realizing Egypt’s renewable energy goals and bolstering its position as a key player in the global green hydrogen market.
