SCZONE Chief Meets British Energy Companies, Financial Institutions

(MENAFN- Daily News Egypt) Waleid Gamal El-Dien, Chairperson of the Suez Canal Economic Zone (SCZONE), met with representatives of British energy companies and several UK and European financial institutions during the Egypt-UK investment Forum in London. The discussions focused on enhancing economic cooperation between Egypt and the UK's business community.

Among the key meetings, Gamal El-Din held discussions with major British energy companies at the Egyptian Commercial Representation Office in London. One notable meeting was with representatives from Globeleq, a global energy producer with a significant footprint in energy facilities, particularly across Africa. Globeleq has also signed a framework agreement with SCZONE for a project aimed at producing green fuel in the Integrated Industrial Zone of Sokhna. Another important meeting was with PASH Global, focusing on cooperation in industries supporting the green hydrogen sector within the SCZONE.

During these meetings, Gamal El-Din emphasized SCZONE's capacity to accommodate the global, especially European, ambitions for green fuel production and its use in industrial and maritime activities. He highlighted that these capabilities have already materialized through groundbreaking achievements, such as the export of the world's first green ammonia shipment in November 2023. This shipment was the result of the pilot production at the Egypt Green Hydrogen Plant, which secured a €397m supply contract under the H2Global auction to supply renewable ammonia to the European Union in July. SCZONE has thus emerged as a prime destination for green energy activities, thanks in part to its strategic proximity to European markets.

Gamal El-Din also met with members of the water desalination and green hydrogen team from the European Bank for Reconstruction and Development (EBRD). The discussions centred on potential technical collaboration to expedite green hydrogen projects with SCZONE's corporate partners. He stressed the need for international financial institutions to provide financial and technical support to achieve the desired results and meet Europe's green energy demands within the planned timelines. The meeting also covered plans for a seawater desalination plant and a 50 MW power station to support the project.

Additionally, Gamal El-Din held talks with Rosie Glazebrook, CEO of the Commonwealth Enterprise and Investment Council, to explore cooperation between SCZONE and the industrial and service sectors represented by the Council. The Council acted as a mediator between investors and financial institutions and a platform to promote investments across various sectors.

In another meeting, Gamal El-Din met with representatives from Wynne Aviation, a company specializing in logistics for the automotive, pharmaceutical, and food industries, to discuss making SCZONE a hub for the company's operations in Egypt and Africa.

Gamal El-Din also met with Rassem Zok, CEO of Standard Bank MENA, to discuss potential collaboration in financing various projects within SCZONE. The bank's focus is on supporting investments in Africa.

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