CAIRO, July 12 (Xinhua) -- The Suez Canal Economic Zone (SCZone) announced that the Egypt Green Hydrogen project in the SCZone has secured a 397-million-euro (about 433 million U.S. dollars) contract to export green fuel to Europe, said a statement by the Egyptian cabinet on Friday.
Under the contract, the Egypt Green Hydrogen project will supply green ammonia to Europe from 2027 to 2033 at a price of 1,000 euros per ton.
Initially, 19,500 tons of ammonia will be supplied in 2027, with the potential to increase to 397,000 tons by 2033.
The Egypt Green Hydrogen project was launched by multinational ammonia exporter Fertiglobe, in partnership with Scatec ASA, Orascom Construction, and the Egyptian Sovereign Fund, on the sideline of the 2022 United Nations Climate Change Conference (COP27) that Egypt hosted in the Red Sea resort of Sharm el-Sheikh.
The contract is shared by the project's founders, according to the statement.
