SCZONE signed a $1.1 bn MoU for green bunkering in East Port Said
On the sidelines of the participation of the General Authority of the Suez Canal Economic Zone (SCZONE) in the Climate Summit COP28, Mr. Waleid Gamal El-Dien, chairman of SCZONE, Eng. Alaa Hagar, Head of the Egyptian Minister of Petroleum’s Technical Office, and Mr. Terje Pilskog, CEO of Scatec ASA, signed an MoU aimed at issuing a license to practice the activity of ships’ bunkering with green fuel for Scatec in East Port Said. The investment cost is about $1.1 billion (including investments in clean energy generation), and production capacity will reach 100,000 tons/year of green methanol by 2027, while the power of the electrolyzer is 190 MW based on 317 MW of wind power and 140 MW of solar power.
Mr. Waleid Gamal El-Dien proceeded his meetings at SCZONE’s pavilion in the Green Zone with companies wishing to identify the available investment opportunities, especially in the field of energy, where he met with Mr. José Luis Jimeno, Chairman of Vestas for the Mediterranean and Africa. It is one of the world’s leading companies in the design, manufacture, installation, development, and service of wind energy projects. The meeting touched on the possibility of cooperation with the company in the production of wind turbines because it is one of the green fuel feeding industries and occupies a priority in SCZONE plans, as the company is looking for a center within the Middle East.
