Egypt and France signed a landmark agreement worth €7 billion (approximately 7.64 billion U.S. dollars) to establish a cutting-edge integrated complex for green hydrogen and ammonia production at Ras Shukeir, located along Egypt’s Red Sea coast.
The deal was concluded on Tuesday, April 8, between Egypt’s Red Sea Ports Authority, the New and Renewable Energy Authority, and the Green Fuel Alliance, a consortium composed of France’s EDF Renewables and Egypt-UAE firm Zero Waste.
The agreement, signed in the presence of French President Emmanuel Macron during his visit to Egypt, marks the beginning of a transformative three-phase project aimed at producing 1 million tons of green ammonia annually. The first phase, set to begin production in 2029, will focus on achieving 300,000 tons per year, with an initial investment of 2 billion euros. The entire 7-billion-euro project will be entirely funded by the private sector consortium.
The expansive complex will feature substantial areas dedicated to wind and solar energy generation, along with production facilities, a seawater desalination plant, and an export pier. This initiative is expected to create thousands of jobs, with a commitment to local labor training. Beyond its economic benefits, the project aims to support Egypt’s climate commitments, provide green fuel for vessels transiting the Suez Canal, and drive the local production of essential green technologies such as electrolyzers, solar panels, and wind turbines.