In Egypt, Business Today Egypt reported that Singapore-based Destiny Energy plans to establish a green ammonia production plant in Egypt with total investments of $210 million.
During a meeting with Hossam Heiba, CEO of Egypt’s General Authority for Investment and Free Zones (GAFI), Destiny Energy’s CEO, Vijay Sersi explained that the project will be located in the Suez Canal Economic Zone (SCZone) and will produce 53 metric tons of green hydrogen and 300 metric tons of green ammonia per day, equivalent to over 100,000 metric tons annually.
The executive also highlighted that the new facility will rely on the region’s growing renewable energy capacity, from both wind and solar power, either developed directly by Destiny Energy or supplied through partnerships with other companies operating in the SCZone, according to the report.
This strategy will reduce the overall cost of the final product, which will be supplied to Egyptian industries and the European Union, the report added.
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