The Egyptian Cabinet approved granting golden licenses to 8 investment projects submitted by the General Authority for Investment and Free Zones (GAFI), Invest-Gate reports.

The licensed projects include a 100-MW green hydrogen plant in Ain Sokhna Industrial Zone at the Suez Canal Economic Zone (SCZone) with an investment cost of $135 million.

The project is executed by Egypt for Green Hydrogen company and offers around 100 jobs.

The licensed proejcts also include a plant to produce green ammonia with a capacity of 1 mn ton per year in Ain Sokhna with investment cost of $5.5 million.

The project offers 10,000 jobs in the construction stage and 600 jobs in the operation stage.

In November, Egypt signed framework agreements with international power companies worth $83 bn to construct nine green hydrogen and ammonia facilities in the Suez Canal Economic Zone (SCZone), Invest-Gate reports.

These facilities, collectively, are set to produce up to 7.6 mn tons of green ammonia and 2.7 mn tons of hydrogen a year when fully operated.