Suez Canal signs $15.6 billion deal to produce green hydrogen with a group of Chinese companies

[Caribbeans]

Suez Canal signs $15.6 billion deal to produce green hydrogen

The Economic Zone of the Suez Canal (ZCZONE) has signed a $15.6 billion agreement with a group of Chinese companies to boost green fuel manufacturing initiatives, reports Middle East media

Michele Labrut | Nov 08, 2023

The agreements are set to produce around 9,000 job opportunities and encompass the establishment of 11 projects, according to the SCZONE Chairman Walid Gamal El-Din.

Egypt has been looking to partner with international entities to produce green hydrogen and its derivatives in the Suez Canal Zone.

The Central Bank of Egypt (CBE) reported that for fiscal years 2022 and 2023, the ports affiliated with the division signed seven agreements with a value of $1.34 billion.

Egypt’s total foreign trade revenue amounted to $111.402 billion in the 2022 and 2023 fiscal years, with the UAE, US, China, and Saudi Arabia as the country’s top trading partners.

China, as the country’s third largest trading partner, saw $7.50 billion in trading volume, with $6.60 billion in imports and $904.8 million in exports...more
https://www.seatrade-maritime.com/sustainability-green-technology/suez-canal-signs-156-billion-deal-produce-green-hydrogen

Imagine a nation not obsessed with world hegemony. You can do it if you try.

You may say I'm a dreamer
But I'm not the only one

[Think. Again.]

1. The U.S. has..

...completely given away the opportunity of the century by not jumping on the clean energy bandwagon, just so that a handful of fossil fuel shareholders could make even more excess wealth than they already have.

[Duppers]

2. Exactly!

Just began reading this....

https://www.cnbc.com/2022/12/29/why-isnt-the-us-electrical-grid-run-on-100percent-renewable-energy-yet.html

"There would also have to be profound cultural and political shifts with an eye toward solving tomorrow’s problems, instead of maintaining the status quo."

In other words, the fat cats are invested.
And "tomorrow’s problems" are really today's problem.

[redqueen]

3. I'm so happy to see this

I've wondered for years if China would go in this direction. They could so easily inspire a sea change on these issues. I hope it continues and catches on.