The General Authority for the Suez Canal Economic Zone (SCZONE) has held talks with officials from both the private and public sectors in Japan to discuss establishing a new industrial zone and to facilitate cooperation in green fuels bunkering.
As disclosed, the parties held talks during a recent event held in Tokyo, which was attended by Egyptian and Japanese companies and government officials. The meeting aimed to support bilateral economic relations and strengthen joint investment partnerships.
During the occasion, SCZONE and its Japanese partners reportedly put pen to paper for two agreements. As informed, the first one was inked by Japan’s ITOCHU Corporation and Egypt’s Orascom Construction with the intention of designing, developing and operating integrated sites for supplying vessels with ammonia as a marine fuel at SCZONE’s East Port Said and the ports in Sokhna.
This endeavor is hoped to contribute to lowered emissions as well as to lending a helping hand to SCZONE’s increasing efforts toward providing sustainable energy for the maritime transport center.
The second agreement was penned with the Tokyo Metropolitan Government (TMG). Per SCZONE officials, it will aim to foster cooperation in the field of green hydrogen for ship bunkering through knowledge and information exchange, demand stimulation, and the promotion of future clean energy applications.
Against the backdrop of these talks, the Egyptian delegation representatives held a meeting with Sumitomo Corporation, as well. As elaborated, the purpose of this meeting was to discuss the establishment of a new industrial zone under the developer model within SCZONE to serve as a platform for attracting investments from Asia.
What is more, the talks further examined partnership prospects within the spheres of bunkering (multiple fuel types), green hydrogen production and the application of products such as green steel that could ‘speed up’ decarbonization efforts. It is understood that Sumitomo’s participation in infrastructure projects within SCZONE was also explored, regarding projects such as water desalination plants, hydrogen service corridors, and others.
Speaking about this occasion, Waleid Gamal El-Dien, Chairman of SCZONE, highlighted the importance of collaboration between the two nations, stating: “Egyptian-Japanese relations extend over decades and are characterized by mutual respect and a shared vision for achieving sustainable development. “
The Chairman added that SCZONE was “one of Egypt’s most important national projects” , primarily owing to its strategic location on both banks of the Suez Canal , linking the Red Sea and the Mediterranean, which makes it a “central hub” for global trade routes.
To remind, El Dein met with the Ambassador of Belgium to Cairo, François Cornet d’Elzius , to discuss new aspects of partnership, including green fuel projects, in February 2024. At the time, El Dein emphasized that SCZONE was accelerating efforts to localize the green fuel industry together with major international partners.
In the field of green fuel cooperation with European partners, it is worth noting that SCZONE signed a $1.1 billion bunkering deal in December 2023 with Norwegian renewable energy solutions provider Scatec, alongside a cooperation protocol with a visiting Dutch delegation in September of that same year.
SCZONE additionally concluded seven green hydrogen deals with the Egyptian government via memoranda of understanding (MoU) in February 2024.
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