Egypt signs renewable energy agreements worth 40 bln USD

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Egypt signs renewable energy agreements worth 40 bln USD

STORY: Egypt signs renewable energy agreements worth 40 bln USD SHOOTING TIME: Feb. 28, 2024 DATELINE: Feb. 29, 2024 LENGTH: 00:01:28 LOCATION: Cairo CATEGORY: ECONOMY SHOTLIST: 1. various of the signing ceremony (courtesy of the Egyptian cabinet) STORYLINE: Egypt signed on Wednesday seven cooperation agreements with international developers in the fields of green hydrogen and renewable energy in the Suez Canal Economic Zone. The total investments for these projects are expected to exceed 40 billion U.S. dollars over a span of 10 years, the Egyptian cabinet said in a statement. Egyptian Minister of Planning and Economic Development Hala Al-Saeed said that the pilot phase of the agreements involves investments of approximately 12 billion dollars, followed by an additional 29 billion dollars for the first phase. The Egyptian government has been working to transform the country into a regional center for the production and export of green energy. Xinhua News Agency correspondents reporting from Cairo. (XH

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