Belgium's Demi Invests $3 Billion to Produce Green Hydrogen in Egypt

The Egyptian Cabinet announced on Wednesday that the first phase of the Belgian company Demi's project to produce green hydrogen in the port of Jargoub in Egypt will cost about $3 billion.

The Cabinet said in a statement that Demi CEO Luc Vandenloeck said during his meeting with Egyptian Prime Minister Mostafa Madbouly that the company is interested in expanding green hydrogen projects in Egypt.

The statement added that the project will be implemented in three phases.

The Prime Minister affirmed the Egyptian government's readiness to provide all support to the project in order to facilitate the company's work.