Egypt has signed a memorandum of understanding for a $5 billion project with Norway’s Scatec (SCATC.OL) to build its first green ammonia plant in the Suez Canal Economic Zone, the cabinet said on Thursday.
The green ammonia plant near the Red Sea port and industrial zone of Ain Sokhna would have production capacity of one million tons annually with the potential to expand to three million tons, the cabinet statement said.
