Waleid Gamal El-Dien, Chairperson of the Suez Canal Economic Zone (SCZONE), recently met with representatives from British energy companies and various UK and European financial institutions at the Egypt-UK Investment Forum in London. The discussions aimed to strengthen economic ties between Egypt and the UK business community.
Key highlights included a meeting with Globeleq, a prominent global energy producer with extensive operations in Africa. This engagement focused on a framework agreement for a green fuel project in the Integrated Industrial Zone of Sokhna. Gamal El-Din also discussed partnerships with PASH Global to advance initiatives supporting the green hydrogen sector within SCZONE.
During these sessions, Gamal El-Din emphasized SCZONE’s potential to support global, particularly European, aspirations for green fuel production, especially for industrial and maritime use. He pointed to significant milestones, such as the export of the world’s first green ammonia shipment in November 2023, which resulted from pilot production at the Egypt Green Hydrogen Plant. This facility secured a €397 million supply contract in July under the H2Global auction to deliver renewable ammonia to the European Union, positioning SCZONE as a leading hub for green energy initiatives due to its strategic location near European markets.
Gamal El-Din also met with the water desalination and green hydrogen team from the European Bank for Reconstruction and Development (EBRD) to discuss technical collaboration on accelerating green hydrogen projects. He stressed the importance of support from international financial institutions to meet Europe’s growing green energy demands and outlined plans for a seawater desalination plant and a 50 MW power station to bolster these efforts.
Additionally, he spoke with Rosie Glazebrook, CEO of the Commonwealth Enterprise and Investment Council, to explore synergies between SCZONE and the industrial and service sectors represented by the Council, which facilitates investment connections.
In another discussion, Gamal El-Din met with Wynne Aviation, a logistics firm servicing the automotive, pharmaceutical, and food industries, to position SCZONE as a key operational hub in Egypt and Africa.
Lastly, he held talks with Rassem Zok, CEO of Standard Bank MENA, to explore financing opportunities for various projects within SCZONE, with a focus on supporting investments across the African continent.
