General Authority for Suez Canal Economic Zone (SCZONE) Chairman Walid Gamal el Dein affirmed willingness to cooperate with all development partners and international institutions to reduce the cost of production and operation and accelerate the pace of green fuel production, through cooperation in financing green fuel projects and supporting the global energy transformation.

The SCZONE head made the remarks while receiving a delegation of representatives of the US Embassy and the US International Development Finance Corporation (DFC) to discuss prospective cooperation in financing green fuel projects at the SCZONE, according to a statement issued by the SCZONE.

The investment opportunities in the field of green fuel within SCZONE are diverse, starting with the production of green fuel, investment in complementary and feeding industries, investment in the infrastructure necessary to establish these projects, in addition to green bunkering services through the ports of Sokhna and East Port Said, Gamal el Dei
n said.

Meanwhile, the US delegation hailed SCZONE’s achievements and pioneering steps in light of the current challenges.

Representatives of the DFC expressed interest in cooperating with companies expected to establish their projects at the SCZONE in the field of green fuel and providing the technical support and financial services offered by the institution for these projects.

The delegation took a tour of the area allocated for green fuel production projects at the Sokhna Industrial Zone, the ‘Egypt Green Hydrogen’ project, and the Sokhna Port, which is witnessing development work that qualifies it to be one of the most important pivotal ports on the Red Sea.

Source: State Information Service Egypt