Chairperson Waleid Gamal El-Din announced that the Suez Canal Economic Zone (SCZONE) has secured $64 billion in green hydrogen investments through 12 framework agreements. The announcement came during a meeting with Egyptian Prime Minister Mostafa Madbouly to review ongoing projects and initiatives within the zone.

These agreements are expected to support the annual production of 18 million tons of green hydrogen. Additionally, a $7.5 billion project under development aims to produce 1.3 million tons annually. SCZONE has also signed 30 Memoranda of Understanding (MoUs), with 14 currently active.

El-Din highlighted the SCZONE’s strategic location along the Suez Canal, a crucial artery for global trade, handling 12% of global trade and 10% of seaborne goods, supporting 100,000 direct and indirect jobs. The zone, encompassing 455 square kilometers and boasting six major ports, is currently operated by five major companies. It comprises four industrial areas, 14 industrial developers, and 400 operational facilities.

Gamal El-Din highlighted SCZONE’s dedication to establishing the green hydrogen industry by creating specialized industrial areas and ports to meet the growing global demand for clean energy. The plans include developing a green hydrogen production complex and manufacturing essential components like electrolysers, wind turbines, and solar panels.

SCZONE outlined further investment opportunities spanning electric vehicle production, battery manufacturing, tyres, pharmaceuticals, building materials, and textiles.

In logistics, SCZONE is advancing the development of a water desalination plant in Sokhna with a planned capacity of one million cubic meters daily. The first phase, delivering 250,000 cubic meters daily, is set to be operational by late 2026.

Additional initiatives include the Sokhna logistics corridor, expected to launch by the end of 2026, alongside a liquid cargo terminal, a 1.5-square-kilometer tank farm, and a gas network project.