Egypt to create 10,000 construction jobs with US$5.5bn project
By Catrin Jones15 December 2022
Egypt has launched several initiatives over the last few years to enhance renewable energy and encourage private sector investment in solar and wind energy infrastructure.
The country’s cabinet has recently approved the construction of a green ammonia project in the Ain Sokhna industrial zone, with an annual production capacity of one million tons.
The ministry said that the project, by Egypt’s Green Ammonia Company, is estimated to cost around US$5.5 billion and will provide 10,600 employment opportunities throughout the construction and operation phases.
During COP27, the European Union and Egypt advanced their long-term cooperation on the clean energy transition by forming a strategic collaboration.
The Egyptian Ministers of Petroleum Tarek El Molla and Electricity and Renewable Energy Mohammed Shaker El-Markabi are reported to have signed a bilateral Memorandum of Understanding (MoU) on a strategic partnership on renewable hydrogen on behalf of the European Commission, represented by Executive Vice-President Timmermans and Commissioner Simson.
The MoU will provide a framework to enable long-term conditions for the growth of a renewable hydrogen sector and commerce throughout the EU and Egypt, including infrastructure and financing.