Qatar Investment Authority (QIA) studies launching a renewable energy project in the Suez Canal Economic Zone (SCZone) with investments of over $1 bn, Invest-Gate reveals

The project includes a green ammonia unit, agreed upon in principle between QatarEnergy and The Sovereign Fund of Egypt (TSFE), on the sidelines of a visit by an Egyptian delegation to Doha last month.

Investments are expected to be injected into the project in the coming period.

The project’s output will be used for bunkering, or export in a later period.

In addition, many renewable and clean projects are under discussion with Qatari parties.

Last week, a Qatari delegation of businessmen visited Egypt to develop economic and trade relations between the two countries.

It is worth noting that QIA was in advanced negotiations with TSFE for the acquisition of stakes in Egyptian fintech and renewable energy companies.