CAIRO, April 8 (Xinhua) -- Egypt and France signed a 7-billion-euro (7.64 billion U.S. dollars) agreement on Tuesday to establish an integrated complex for green hydrogen and ammonia production in Ras Shukeir on Egypt's Red Sea coast, the Egyptian Ministry of Trade and Industry said.
The deal was signed between Egypt's Red Sea Ports Authority and the New and Renewable Energy Authority, partnering with the Green Fuel Alliance, a consortium comprising France's EDF Renewables and Egypt-UAE firm Zero Waste, the ministry added in a statement.
The signing occurred during a visit to Egypt by French President Emmanuel Macron and was witnessed by ministers from both countries, including Egypt's Deputy Prime Minister for Industrial Development and Minister of Industry and Transport Kamel el Wazir and French Finance Minister Eric Lombard.
The three-phase project aims to produce 1 million tons of green ammonia annually. The first phase, scheduled to start production in 2029, targets 300,000 tons per year and involves a direct investment of 2 billion euros, the statement said. The private sector consortium will fully finance the total 7-billion-euro investment.
"This agreement comes in implementation of presidential directives aimed at encouraging and enhancing efforts to localize the green hydrogen industry," said el Wazir.
He added that the project supports Egypt's goal to become a "regional and global hub for energy and green fuel."
The complex will include extensive areas for wind and solar power generation, production facilities, a seawater desalination plant, and an export pier. It is expected to generate thousands of jobs, with the consortium committed to training local labor.
The project aims to help Egypt meet climate commitments, supply green fuel for ships passing through the Suez Canal, and promote local manufacturing of electrolyzers, solar panels, and wind turbines, according to the ministry statement.
