Egypt joins consortium to unlock $100 billion opportunity in clean industrial projects

Egypt has become the third country to join the Industrial Transition Accelerator (ITA) programme in the Middle East and North Africa region, following the UAE and Bahrain, in a significant push to accelerate industrial decarbonisation across the region.

The partnership, announced in Abu Dhabi, aims to fast-track critical clean industrial projects with investment opportunities exceeding $100 billion. The agreement was signed by UAE's Ministry of Industry and Advanced Technology Undersecretary Omar Suwaina Al Suwaidi and Egypt's Industrial Modernization Center Executive Director Duaa Salima.

Egypt's inclusion marks a crucial milestone for the country, which seeks to increase its industrial sector's contribution to GDP from 14% to 20% by 2030. With its strategic location, established energy infrastructure and growing renewable energy capacity, Egypt is well-positioned to become a key supplier of low-carbon industrial goods to European markets.