Suez Canal Economic Zone (SCZone) has signed two cooperation agreements in green energy with Japanese partners during the 12th session of the Egypt–Japan Business Council and the Egypt–Japan Investment Forum, held in Tokyo.
The first agreement was signed with Japan’s ITOCHU Corporation and Orascom Construction to jointly design, develop, and operate integrated facilities for supplying ships with ammonia as a marine fuel (bunker fuel) at the SCZone ports of Sokhna and East Port Said.
This agreement will contribute to reducing emissions and supporting the Zone’s transition toward sustainable energy in maritime transport, according to SCZone press release.
The second agreement was signed with Tokyo Metropolitan Government (TMG) to cooperate in the field of green hydrogen for ship bunkering through knowledge-sharing, boosting demand, and promoting future clean energy applications.
As a whole, the two countries signed 12 agreements and letters of intent during the forum with the aim of providing investment returns and contributing to deepening local production and adding value, supporting supply chains, and developing exports and trade to markets in neighbouring countries.
On the sidelines of the forum, SCZone Chairman Walid Gamal El-Din met with representatives of Japan’s Sumitomo Corporation to discuss the establishment of a new industrial zone under the industrial developer system within the SCZone to attract Asian investments.
SCZone, established in 2015, serves as a platform for investment, manufacturing, and logistics, connecting the Red Sea and the Mediterranean. Consisting of four industrial areas for 21 industrial sectors, SCZone provides financial, customs, and tax incentives, along with infrastructure and digital services.
Both parties addressed cooperation in the fields of supplying ships with different fuel types and green hydrogen production, whether for export, ship fueling, or use in green industries such as green steel.
The meeting also shed light on Sumitomo Corporation’s investments in several infrastructure projects within SCZone, including water desalination plants, a hydrogen service corridor.
AloJapan.com