MOSCOW (Pakistan Point News / Sputnik - 02nd June, 2022) Germany-based hydrogen company H2-Industries and the General Authority for Suez Canal Economic Zone (SCZONE) on Wednesday signed a memorandum of understating on the construction of the first Waste-to-Hydrogen processing facility in the East Port Said industrial zone, northern Egypt, SCZONE said in a statement.
"The General Authority for Suez Canal Economic Zone (SCZONE) signed a memorandum of understanding with H2-Industries Inc. to build a new Waste-to-Hydrogen facility at a new greenfield site in East Port Said, a project with an estimated cost of $4 billion," the statement read.
The memorandum was signed by SCZONE Chairman Yehia Zaki and H2-Industries CEO Michael Stusch.
The facility will be able to produce 300,000 tonnes of green hydrogen and dispose of some 4 million tonnes of municipal solid waste per year, the statement said. A fleet of hydrogen-powered trucks is expected to transport the waste to the plant. Moreover, the plant will be producing "clean hydrogen powering Egypt's domestic energy transition and allowing it to become an exporter of clean hydrogen and a global leader in a new hydrogen economy."
The memorandum of understating lacks legal force until H2-Industries finish feasibility studies and sign the contract. The parties are expected to finalize the deal in November.
