Fertiglobe, led by CEO Ahmed El-Hoshy, is making substantial progress towards the final investment decision (FID) for the Egypt Green Hydrogen project located in Ain Sokhna within the Suez Canal Economic Zone. The company has secured a green ammonia offtake agreement through the H2Global pilot auction, supported by Germany's Federal Ministry for Economic Affairs and Climate Action. The project, developed by a consortium including Scatec, Fertiglobe, Orascom Construction, The Sovereign Fund of Egypt, and the Egyptian Electricity Transmission Company, aims to produce renewable ammonia using renewable hydrogen as feedstock. This initiative received a significant boost with a 20-year ammonia offtake agreement signed at the Egypt-EU Investment Conference in June 2024. Fertiglobe's pricing strategy for green ammonia involves supplying to European ports from 2027 onwards, with a maximum contract value of €397 million. The company managed to secure the deal by offering a competitive bid price, demonstrating a commitment to advancing sustainable ammonia production. Furthermore, key steps for the project include finalizing financing with global institutions like the EBRD and EIB, underscoring the international support for green hydrogen initiatives in Egypt. Scatec, the lead developer of the project, is driving the development of renewable hydrogen and ammonia production facilities powered by solar and wind energy. The establishment of the H2Global Foundation and Germany's significant investment in clean hydrogen technologies reflect a growing global interest in sustainable energy solutions. The project's focus on clean energy production and collaboration with international partners signifies a momentous step towards achieving sustainable development goals in the Middle East region.