Cairo – Mubasher: The Egyptian Red Sea Ports Authority (RSPA) and the New and Renewable Energy Authority (NREA) have signed an agreement with a consortium of France’s EDF Renewable and the Egyptian-Emirati company to produce green hydrogen and green ammonia near Ras Shoukair in Hurghada city.
Egypt’s Minister of Transportation Kamel El-Wazir stated that the project is unique, highlighting that the state bears no financial obligations for infrastructure or energy transmission, according to a cabinet statement.
He further noted the direct economic returns to the state, including service and licensing fees, as well as taxes paid in dollars.
These revenues will be derived from the project's operations, which include wind and solar electricity generation, hydrogen production, and green ammonia manufacturing, with an annual production capacity exceeding one million tonnes, El-Wazir explained.
The minister revealed that the EDF Renewable-Zero Waste consortium will invest EUR 2 billion in the project’s initial phase.
The total investment across all stages is projected at EUR 7 billion, with plans outlined for land allocation totalling 420 square kilometres (km²) across three phases.
This includes areas for renewable energy generation and factory infrastructure, alongside a seven-km electricity transmission path and a 400-metre shipping dock developed by the project company.
The recent agreement was signed on the sidelines of the Egypt-EU Investment Conference 2024, held between 29 and 30 June in Cairo.
During the event, the NREA and the Alexandria Port Authority penned an agreement with Belgium’s DEME HYPORT Energy for an EUR 24bn green hydrogen and ammonia production project.
