Arab Finance: The Suez Canal Economic Zone (SCZone) is set to finalize a framework agreement for a $7.5 billion green hydrogen project, as per a statement.

The announcement was made during a meeting with Prime Minister Moustafa Madbouly and SCZone head Walid Gamal El Din.

The planned facility will have an annual production capacity of 1.3 million tons of green hydrogen, adding significant capacity to the country’s renewable energy initiatives.

This agreement follows the signing of 12 other framework agreements for green hydrogen production within the SCZone, reflecting ongoing efforts to position the area as a hub for sustainable energy projects.

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