China Energy to Begin Construction of $5.1 Billion Green Hydrogen Plant in Egypt this May

China: China Energy is set to begin construction of a new $5.1 billion hydrogen project in Egypt next May, according to a statement from the Egyptian Prime Minister Mostafa Madbouly at an official meeting with the Chairman of China Energy on March 8^th. The project will be one of the largest of its kind and is expected to provide a major boost to the local economy.

China Energy and Egypt have signed a Memorandum of Understanding (MoU) to establish a green Hydrogen production project in Egypt. The project will enable the possibility of exporting green Ammonia to European markets, which could result in more hard currency for the country.

Prime Minister Mostafa Madbouly has emphasized Egypt's readiness to provide a wide range of incentives for new investments in the field of green Hydrogen and water desalination. He welcomed the Chinese firm's intention and expressed enthusiasm in making these projects a reality.

China Energy has been a major player in the energy sector in Egypt since 2009, executing multiple projects to help strengthen and develop the industry. The company's most recent initiative is the 330-kilometer electrical interconnection line between Egypt and Saudi Arabia, which will help to power communities across both countries.