Gov't Reviewes Green Ammonia Project with Investments of $1 bn

PM Mostafa Madbouly reviewed the features of the project presented by Benchmark Power International to produce green ammonia in the Gulf of Suez, in a meeting in the presence of Hisham Amna, Minister of Local Development, Abdel Mageed Saqr, Governor of Suez, and Ahmed Bahgat, Chairman of the Board of Directors of the Company.

The Prime Minister said in a statement Sunday that the Egyptian state has great capabilities that qualify it to be a regional center for the production and export of green hydrogen and green ammonia, in light of the great incentives that the state grants to green projects, and the huge capabilities available to us of electricity generated from free renewable energy sources. Completely free of any carbon emissions, which puts us on the right path to reaching carbon neutrality levels.

The Prime Minister pointed out that the National Council for Green Hydrogen had approved, during the week before last, the green hydrogen strategy that gives many advantages and incentives to this important sector, and that one of the companies had succeeded, during the past few days, in exporting the first green ammonia shipment in the world from Egypt to India, which is an incentive for international companies to come to Egypt and invest in this sector.