- December 2, 2023
- Posted by: Ahmed Abed
- Category: 2023, EN
Mr. Waleid Gamal El Dien, Chairman of the General Authority for the Suez Canal Economic Zone (SCZONE), began the activities of SCZONE’s pavilion in the Green Zone by holding several meetings with major international companies wishing to explore the investment opportunities within SCZONE.
He met with representatives of ACWA Power company to discuss means of activation to the memorandum of understanding signed with the company and accelerate the pace of work on the necessary studies for the project. Mr. Waleid Gamal El-Dien reviewed SCZONE’s support for projects related to green fuel production, which contributed to SCZONE being a hub that carried out the first green bunkering operation in the eastern Mediterranean and Africa and also witnessed the export of the first ammonia shipment in the world that was produced using hydrogen manufactured by electrolyzers.
Mr. Waleid Jamal El-Dien also met with Mr. Kim Fejfer, Managing Partner and Executive Director of A.P. Moller Capital, which specializes in fund management. The meeting reviewed aspects of future cooperation with the company, especially in the field of financing green fuel projects. Mr. Waleid Gamal El-Dien explained that green fuel projects need financing to accelerate The pace of work in them, and the investors of these projects need to reduce the cost of production and operation to obtain the best prices for the final product.
He also held a meeting with Mr. George Weber, a member of the Executive Board of Directors of Wilo SE. The company is a manufacturer of pump systems based in Dortmund, Germany. They discussed the possibility of cooperation, as the water pump industry is of great importance in feeding national projects. During the meeting, Mr. Waleid Gamal El-Dien reviewed the support offered by SCZONE in such projects through industrial zones that can host this industry, logistical zones that contribute to facilitating the transportation and storage of products, and ports that overlook the Red Sea and Mediterranean Sea and allow access to various global markets, especially African markets.
SCZONE also participated in a session entitled “Green Hydrogen…from Announcement to Investment,” inside the Egyptian Pavilion in the Blue Zone to discuss the support offered by the governmental actors and international institutions for green fuel projects through legislation and financing. The session touched on SCZONE’s keenness to Provide the necessary infrastructure to establish these projects and the working on a new investment incentive package dedicated to green energy projects to encourage investment. It also touched on the importance of financial and legislative support for green economy activities.
