$ 5 billion Qatar investment in Egypt.. Know Fields
Egypt has opened its doors to foreign investments, and one of the most prominent countries seeking to invest in Egypt at the present time is Qatar.
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Qatar is seeking to invest $1 billion in green hydrogen and ammonia projects in Egypt.
Qatar's "sovereign" fund announced that it may give a strong boost to Egypt's plans to produce green hydrogen, and the fund is also studying investing in a new project to produce green hydrogen and green ammonia in the Suez Canal economic.
Billion Dollars Investments
The fund is scheduled to invest more than one billion dollars in green ammonia, which will produce green fuels for bunkering, and for export at a later stage.
On a related level, the Qatar Energy Fund and Egypt's Sovereign Fund agreed on the project details during President Abdel Fattah El-Sisi's visit to the Qatari capital, Doha, in September.
With regard to the details of the agreement on the amount of fuel that the facility will produce, or when the Qatar Investment Authority will complete the feasibility studies of the project, or the expected timetable for its implementation, it cannot be determined yet.
Big Investments
After Doha pledged to invest $5 billion in Egypt, the two sides held talks about possible investments by Qatari companies and the Qatar Investment Authority, but nothing has been officially announced yet.
Investing in Egyptian ports
In another new step, the sovereign fund may join its counterparts from other Gulf countries that invest in Egyptian ports, with new investments fund in Damietta port.
The two sides held talks on joint investments in oil and gas. Qataris are also looking to invest in state-owned companies listed on the Egyptian Stock Exchange, while Qatar Energy is working to strengthen its presence in the Egyptian oil and gas sector this year.
Transformation into a regional center for green energy production
The Egyptian government continues its efforts to benefit from the investment momentum ahead of the COP27 climate summit to transform the Suez Canal Economic Zone into a regional center for green energy.
In this regard, international companies signed preliminary agreements worth $33 billion to implement projects to produce green ammonia and hydrogen this year, the last of which was with Maersk for a $15 billion mega facility with a capacity of 3 million tons of green fuel annually.
