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Egypt and France have signed a $7.6 billion agreement to develop a large-scale green hydrogen and ammonia production complex near Ras Shokeir on the Red Sea coast.
The deal, which comes amid heightened economic relations between the two nations, includes the development, financing, construction, and operation of a private-sector-led facility.
EDF Renewables and Zero Waste will lead the project in partnership with the General Authority for the Red Sea Ports and the New and Renewable Energy Authority.
According to a joint statement by the Egyptian Ministries of Industry and Transport, the undertaking will be fully financed and implemented by the private sector consortium, with no financial commitments or infrastructure obligations from the government.
The initiative will be developed over three phases and is expected to produce up to one million tonnes of green ammonia annually, starting in 2029.
Egypt on Monday received French President Emmanuel Macron on an official visit focused on addressing the humanitarian crisis in Gaza and strengthening bilateral economic co-operation.
Macron participated in the Franco-Egyptian Business Forum, where discussions emphasised increasing French investment in Egypt and expanding collaboration in renewable energy, infrastructure, and industry.
The hydrogen agreement signed during the visit was among the most significant outcomes, aligning with Egypt’s strategy to become a regional hub for clean energy and green fuel exports.
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