The Suez Canal Economic Zone (SCZone) has announced a significant development in its efforts to promote green hydrogen projects and renewable energy partnerships.

The SCZone has transformed a previously signed Memorandum of Understanding (MoU) into a comprehensive collaboration framework between the Economic Zone and multiple Egyptian entities in partnership with China Energy. The collaboration aims to establish a new Green Hydrogen industrial complex within the Integrated Sokhna area of the SCZone.

The agreement was signed by officials from SCZone, the Sovereign Fund of Egypt for Investment and Development (TSFE), Egypt’s New and Renewable Energy Authority (NREA), and the Egyptian Electricity Transmission Company (EETC). This collaborative effort underscores Egypt’s commitment to renewable energy and the transition toward a greener economy.

To further strengthen the partnership, SCZone Chairman Gamal El-Din met with Assem Hanafi, Egypt’s ambassador to China, and officials from China Energy at the company’s headquarters in Beijing. During discussions, China Energy expressed its enthusiasm to collaborate with SCZone, emphasizing Egypt’s strategic location as a gateway for companies looking to export to European and African markets. The finalization of the agreement is expected within the next two months.

As part of SCZone’s promotional tour in Asia, officials from the Economic Zone will explore potential cooperation opportunities with Chinese companies across various industrial sectors. This visit to Beijing marks a crucial step in fostering bilateral ties and expanding investment prospects between Egypt and China.

Earlier in the day, Gamal El-Din delivered a speech at the Egyptian-Chinese Investment forum, held at the Egyptian embassy in China, further showcasing the mutual interest in enhancing economic cooperation between the two nations.