CAIRO – 29 June 2024: The Egypt-EU Investment Conference, which commenced in Cairo on Saturday, saw the signing of several agreements for renewable energy production worth billions of dollars.
One notable agreement was signed between the General Authority for Alexandria Port, Egypt’s New and Renewable Energy Authority (NREA), and an international consortium led by Belgium’s DEME HYPORT Energy.
The agreement pertains to a mega project for the production of green hydrogen and green ammonia.
The project, to be established in Gargoub, west of Matrouh, will require a total investment of €24 billion, with €3 billion allocated for the first phase.
The project will cover an area of 1,180 square kilometers and is part of the Ministry of Transport’s plan to supply up to 2 million tons of green fuel annually to meet the EU’s energy needs.
The Gargoub project signing – Photo: Cabinet
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