SCZONE reviews investment opportunities for mega companies at COP28

Chairman for the General Authority of Suez Canal Economic Zone (SCZONE) Walid Gamal al-Dein expounded the potential of the zone and investment incentives offered by its industrial zones, during a meeting with representatives of mega international companies operating in various domains.

The meetings took place on the sidelines of the SCZONE participation in the 2023 UN Climate Change Conference (COP28) with a pavilion that highlights the potential investment opportunities of the zone for international firms, the SCZONE said in a statement issued on Saturday 02/12/2023.

At a meeting with representatives of the Saudi company ACWA Power, Gamal El Dein discussed means of activating a memorandum of understanding (MoU) signed between both sides as well as accelerating conducting studies of the company’s planned project at SCZONE.

The SCZONE head reviewed the importance attached by the zone to the production of green fuel, a matter that contributed to carrying out the first ship bunkering operation with the green fuel in the Middle East and Africa by the zone, the statement added.

Also, the zone has witnessed the exportation of the first Ammonia shipment globally which is produced using the locally-made hydrogen, Gamal al-Dein added.

Gamal al-Dein held a meeting with Kim Fejjfer, the CEO of the fund management company A.P Moller Capital, to discuss aspects of future cooperation in the domain of financing green fuel projects.

At a meeting with George Weber, the Executive Board Member of Wilo SE Company, which is specialized in pump systems, prospects of cooperation in pumps manufacturing were probed.

Meanwhile, the SCZONE participated in a session titled “Green Hydrogen: From Announcement to Investment”, which took place in the Egyptian pavilion to address support provided by government bodies and international institutions to green fuel projects through legislation and financing, the statement said.

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