Egypt Signs $5 Billion Agreement With Norway’s Scatec to Produce Green Ammonia

A statement issued by the Egyptian Cabinet stated that Egypt had signed a memorandum of understanding with the Norwegian renewable energy company Scatec regarding a project to produce green ammonia from green hydrogen.

The statement added that the agreement concluded by the company with the General Authority for the Economic Zone of the Suez Canal, Egypt’s Sovereign Fund, the Egyptian Electricity Transmission Company and the New and Renewable Energy Development and Use Authority amounted to $5 billion.