Egypt and France have signed a monumental $7.68 billion agreement to collaborate on the development, financing, and operation of a green hydrogen production facility in Ras Shukeir, Egypt. The agreement, signed during French President Emmanuel Macron's visit to Egypt, involves implementing companies like EDF Renewables and Zero Waste. The project aims to position Egypt as a regional and global hub for green hydrogen, clean fuels, and green ammonia production. It also intends to provide clean fuel for ships passing through the Suez Canal, export green ammonia to global markets, and localize green energy manufacturing industries in Egypt. With a capacity to produce 1 million tons of green ammonia annually upon completion, the project will create significant job opportunities for the local workforce. It is noteworthy that the project will be fully financed by the private sector consortium without financial obligations from the Egyptian government. The agreement underscores the potential for revenue generation through various means for the Egyptian government. This strategic initiative not only signifies a crucial step towards sustainable energy production but also highlights the economic and environmental benefits that such projects can bring to the region.