Egypt and France have signed a 7 billion euro ($7.68 billion) settlement to work collectively to develop, finance and function a inexperienced hydrogen manufacturing facility, Egypt’s Transportation Ministry stated.
The settlement was signed throughout French President Emmanuel Macron’s go to to Egypt.
Under the settlement, the 2 international locations will develop, finance, assemble and function a complete facility close to Ras Shokair on the western shore of the Gulf of Suez in jap Egypt for the manufacturing of inexperienced hydrogen and its derivatives, together with inexperienced ammonia, Anadolu Agency (AA) reported citing the assertion by the Egyptian Trade Ministry.
It was signed between the Red Sea Ports Authority and the New and Renewable Energy Authority in partnership with the Green Fuel Alliance, which consists of the French firm EDF Renewables and the Egyptian-Emirati firm Zero Waste.
The three phases of the challenge will price 7 billion euros ($7.68 billion) with a complete manufacturing of 1 million tons yearly.
Macron arrived in Cairo on Sunday for a three-day go to for talks with Egyptian officers on bilateral ties and regional developments. His journey started with a tour of the Grand Egyptian Museum in western Cairo and a stroll by way of its historic streets, particularly the Khan el-Khalili Bazaar.
Source: www.dailysabah.com