As Egypt’s ambitions is to transform into a regional hub for green hydrogen production by 2026 and a global hub by 2030; Egypt aims to produce 3.2 mn tons of green hydrogen per year by 2029 and 9.2 mn tons per year by 2040. Renewable energy will make up 58% of Egypt’s total energy mix by 2040, up from its current target of 42% by 2030.
The Prime Minister witnessed the signing of the agreement for the project to produce green hydrogen, its derivatives, and green ammonia in the Gargoub Port Area, within North West Gate Gargoub SEZ Region, with an international coalition led by the Belgian company Deme - Hyport Energy.
On the sidelines of the activities of the Joint Egyptian-European Investment Conference, which was launched on June 24th ,2024 in the presence of His Excellency President Abdel Fattah El-Sisi, President of the Republic, and the participation of the President of the European Commission, Mrs. Ursula von der Leyen, Dr. Mostafa Madbouly, Prime Minister, witnessed, in the presence of Dr. Mohamed Shaker, Minister of Electricity and Energy. Renewable Energy, and Lieutenant General Engineer Kamel Al-Wazir, Minister of Transport, and Mr. Valdis Dombrovskis, Vice President of the European Commission, European Commissioner for Trade, signed the agreement for the project to produce green hydrogen, its derivatives, and green ammonia in the North West Gate Gargoub SEZ Region, between the General Authority of Alexandria Port, affiliated with the Ministry of Transport, And the New and Renewable Energy Development and Utilization Authority of the Ministry of Electricity and Renewable Energy, with the alliance of the Belgian company (Deme-Hyport Energy NV).
The Minister of Transport explained that the investment cost of the first phase of the project amounts to 3 billion euros, and will be fully financed by the company, bringing the investment cost of the project as a whole to 24 billion euros for the three phases of the project. The project is considered one of the joint projects with the European Union, and it also comes within the framework of the Ministry of Transport’s plans to provide It reaches 2 million tons annually of green fuel and green ammonia, which provides the basic energy needs of the European Union countries, which highlights the status of the Egyptian state and achieves common interests with the state of Belgium as it owns one of the most important ports on the European continent, which will connect directly with the port of Gargoub and the North West Gate Gargoub SEZ .northwest coast. For Egypt.
The Minister of Transport confirmed that the area of the three phases of the project is (1,180) km2, as a generating area for solar and wind energy at a distance of (70) km2 from Gargoub port, North West Gate Gargoub Special Economic Zone, and the factory land on an area of (6) km2 for the three phases, in addition to the electricity transmission path. The minister added that this project falls within the framework of the strategic plan for the North West Gate Gargoub Special Economic Zone, which includes the industrial zone, logistics and business center, in addition to urban development areas, as well as tourist development areas, as well as the Gargoub Port development project, which is a new addition to Egypt’s ports on the Mediterranean Sea, where the site is connected to the capital and the cities of the northern coast through the international coastal road, indicating that the Gargoub port development project and Special Economic Zone will become Egypt’s northwestern window to Europe and the world for the exchange of modern industries and commercial activities, since international coastal road enhances communication and connectivity with other cities worldwide, as well as enhancing the economic and urban presence in North West Gate Gargoub SEZ, Egypt, and Africa.
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