Air Liquide, China’s EUG ink MoU to set up green ammonia projects in Egypt

Air Liquide Egypt and China’s United Energy Group (UEG) signed an MoU to develop green ammonia projects using green hydrogen in Egypt, Al Mal reports. The partnership will see Air Liquide supply green nitrogen for the project and work with UEG to use it for producing ammonia.

Egypt has a flurry of green hydrogen plants in the pipeline as part of a goal to become a regional hub for green hydrogen by 2026 and a global hub by 2030. The government in August launched the National Low-Carbon Hydrogen Strategy, which targets 5-8% of the global hydrogen market by 2040.

Mashreq Bank Egypt will promote potential investments in Egypt under a newly-inked MoU with the General Authority for Investment and Free Zones (GAFI), according to a statement. Under the MoU, Mashreq will introduce its local and international clients to Egypt’s growing investment opportunities and then help connect interested clients with GAFI and arrange meetings with potential investors abroad. The move aims to attract more foreign investors into the Egyptian market, particularly from the UAE.