Egypt's SCZONE Signs MoU on $4bln Waste-to-Hydrogen Plant

An aerial view of the Gulf of Suez and the Suez Canal are pictured through the window of an airplane on a flight between Cairo and Doha, Egypt, November 27, 2021. REUTERS/Amr Abdallah Dalsh

Egypt's Suez Canal Economic Zone (SCZONE) and H2-Industries have signed a memorandum of understanding (MoU) to build a waste-to-hydrogen facility at a greenfield site in east Port Said with an estimated cost of $4 billion, an SCZONE statement said on Wednesday.

The project targets production capacity of 300,000 tons of green hydrogen per year, Reuters quoted the statement as saying.

Egypt, which will host the COP27 climate summit in November, has recently signed a series of MoUs for green hydrogen and ammonia projects.