Egypt and Euroclear: Partnering for Green Hydrogen Growth
Key Ideas
- Egyptian Minister of Investment highlights the role of international financial institutions in promoting growth and sustainable development in Egypt's key sectors.
- Meetings in Brussels focus on boosting financial cooperation between Egypt and Euroclear group, with discussions on expanding the group's activities in the Egyptian market.
- Discussions with Deme Hyport Energy emphasize opportunities for investment in green hydrogen and green ammonia production in Egypt.
- The green hydrogen project in Gargoub is deemed significant by both parties, with an initial investment of 3 billion euros and a total investment cost of 24 billion euros for three phases.
During a visit to Brussels, Minister of Investment Hassan al-Khatib met with executive officials from Euroclear group to discuss enhancing financial cooperation and expanding the group's activities in Egypt's market. The visit also included talks with Deme Hyport Energy on investment opportunities in green hydrogen and green ammonia production in Egypt. The Ministry of Investment expressed strong support for the green hydrogen project in Gargoub, emphasizing its importance. Plans for the project include a significant investment of 3 billion euros for the first phase and a total investment cost of 24 billion euros for all three phases. Both parties showed enthusiasm for further collaboration and growth in the Egyptian market's renewable energy sector.