In Saudi Arabia, AL-Monitor reported that Saudi Arabia’s ACWA Power has signed an agreement to develop a $4 billion green hydrogen project in Egypt, with the first phase of the initiative expected to produce 600,000 metric tons of green ammonia per year. The agreement by the Saudi company and The Sovereign Fund of Egypt, the Suez Canal Economic Zone, the Egyptian Electricity Transmission Company, and the New and Renewable Energy Authority follows a memorandum of understanding signed on the project on December 7. The second phase of the project could produce 2 million metric tons per year.
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