Mr Walid Gamal El-Din, Head of the Economic Zone of the Suez Canal, and his accompanying delegation of members of the Economic Authority and a delegation of industrial developers of Sokhna and East Port Said met officials of Indian companies operating in the renewable energy and the manufacture of electric bicycles fields. Where the delegation completed its promotional tour in India with its intensive meetings to attract more Indian investments from various sectors within the industrial zones of the zone, where the representatives met Mr Ranjit Gupta, CEO of Ocior Energy, which operates in the field of renewable energy, and which signed a framework agreement last December, to develop green hydrogen and green ammonia projects in the economic zone. The company is specialized in developing, building and operating green fuel facilities, including renewable energy facilities needed to generate energy from renewable sources to produce this fuel.
In the same context, the CEO of the company said that Egypt is one of the countries with a unique destination for investment, as the company wants to integrate its business and establish energy and green fuel projects in line with the world’s transformation of the green economy, pointing to the economic zone of the Suez Canal as the ideal location for the company to produce green ammonia due to the availability of green ammonia. The abundant resources of energy sources as well as the elements that the region enjoys in terms of lands, facilities and infrastructure, and its proximity to the Suez Canal corridor and seaports that facilitate the transportation of green fuel to foreign markets and thus meet the needs of the European market, as well as the investment incentives allocated to green fuel projects and complementary industries. To promote green hydrogen and green ammonia projects, demonstrating the commitment of the Egyptian state to achieving a sustainable future.
For his part, the head of the economic zone said that the zone is studying all green fuel projects to meet the future growing demand for European markets.
