Egypt granted a license on Wednesday to build a green ammonia project in Ain Sokhna industrial zone, with an annual production capacity of 1 million tons.
The project, by Egypt’s Green Ammonia Co, will cost around $5.5 billion and offer around 10600 jobs during the construction and operation phases, the government noted in a statement.
During COP 27 in November, Egypt signed eight framework agreements to develop green hydrogen and ammonia projects, saying it aimed to become a hub for hydrogen production and win 5% of the global market by 2040.
Green hydrogen is produced using electrolysers powered by renewable energy to split water from oxygen. It is seen as a potential future power source that could reduce emissions, though to date it is largely limited to experimental projects.
