On the Sidelines of Egypt-UK Investment Forum SCZONE’s chairman meets several representatives of British companies in the energy field and financing institutions

Mr. Waleid Gamal El-Dien, Chairman of the General Authority of the Suez Canal Economic Zone (SCZONE), met with several representatives of British companies operating in the field of energy, as well as representatives of British and European financing institutions, on the sidelines of his participation in the proceedings of the Egypt-UK Investment Forum, which is being held in the British capital to discuss aspects of economic cooperation between Egypt and the business community in the United Kingdom.

SCZONE’s chairman held meetings with major British companies operating in the energy sector, at the headquarters of the Egyptian economic and commercial Office in London, starting with meeting the representatives of “Globaleq”, which specializes in energy production and has a large stake in several energy production facilities worldwide, specifically in Africa. It also signed a framework agreement with SCZONE to establish a project targeting the production of green fuel in the Sokhna integrated industrial zone. A meeting was also held with “Pash Global” to discuss aspects of cooperation in the industries that feed and complement the green hydrogen industry within SCZONE.

“SCZONE can accommodate global ambitions, especially European ones, in the production of green fuel and its use in industrial and maritime activities, as SCZONE’s capabilities have turned into pioneering steps that have been achieved on the ground by exporting the first shipment of green ammonia in the world in November 2023 through the pilot production of “Egypt For Green Hydrogen” facility, which is a winner for a supply contract worth 397 million euros within H2Global Corporation auction to supply renewable ammonia to the European Union last July, thus SCZONE has become the ideal destination for green energy in its various fields, in addition to its proximity to European markets due to its strategic location.” Mr. Waleid Gamal El-Dien, Chairman of SCZONE declared.

Mr. Waleid Gamal El-Dien also met with representatives of the desalination plants and green hydrogen teams at the European Bank for Reconstruction and Development (EBRD). The meeting discussed the latest developments regarding the possibility of technical cooperation between the two sides to accelerate the pace of work on green hydrogen projects with SCZONE partners from companies operating in this field. He stressed the need for international financing institutions to support these projects financially and technically to achieve the desired results and meet the European continent’s needs for green energy according to the planned timetables. The meeting also included discussions about the establishment of a seawater desalination plant, as well as serving it by establishing a 50-megawatt electricity plant.

Mr. Waleid Gamal El Dien held a meeting with Ms. Rosie Glazebrook, CEO of the “Commonwealth Enterprise & Investment Council”, to discuss aspects of cooperation between SCZONE and the economic entities and companies included in the Council in the targeted industrial and service sectors, as the Council is an intermediary between investors and financing entities, in addition to being a platform for promoting investments in various sectors. Mr. Waleid Gamal El Dien also met with representatives of “Wynne Aviation”, a company specializing in logistics services for automotive, pharmaceuticals, and food industries, to discuss the possible future cooperation with SCZONE to be a center for the company’s business in Egypt and Africa.

During the day’s events, Mr. Waleid Gamal El Dien also met with “Standard Bank” representatives, in the presence of Mr. Rassem Zok, CEO of Standard Bank Middle East, to discuss the possibility of cooperation in financing various projects within SCZONE, as the bank’s vision focuses on supporting investment in the African continent.