Egypt signs $8 billion agreement with India for Suez Canal Economic Zone

Egypt signs $8 billion agreement with India for Suez Canal Economic Zone

• Egypt and an Indian company have signed a memorandum of understanding (MoU) to construct a green hydrogen factory in the Suez Canal Economic Zone, according to a cabinet announcement.
•  The MoU states that Indian ReNew Power Private Limited (RENE.BO) will invest $8 billion to construct a facility that will create 20,000 tonnes of green hydrogen annually.

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Published date : 30 Jul 2022 06:05PM