More than $37 billion will be invested across the initial stages of hydrogen and ammonia production projects, ranging in location from the Gulf of Suez to west of the Nile Delta. A series of agreements concerning existing and newly-announced projects were signed at the recent Egypt-EU Investment Conference.
Spain-based FRV will develop a new $5 billion renewable hydrogen and ammonia project at the Pecém Industrial and Port Complex. At full capacity, 1.6 million tons of ammonia per year will be produced. FRV is now one of six organisations that have signed agreements with the state government of Ceará to develop production projects.