The Sovereign Fund of Egypt has entered into four agreements totaling $33 billion in the green ammonia sector with European developers, an Egyptian Cabinet statement informed on Sunday. The agreements were signed during the joint EU-Egypt Investment Conference in Cairo.
The first $11 billion deal was signed with German company DAI Infrastruktur GmbH, and the second worth $4.25 billion was signed with India’s Ocior Energy. The third agreement, worth $3.46 billion, was signed with an alliance of Egypt’s TAQA Arabia and French company Voltalia. The fourth agreement of $14 billion was signed with Britain’s BP, the United Arab Emirates’ Masdar, Egypt’s Hassan Allam Utilities, and Infinity Power, a joint venture of Egypt’s Infinity and Masdar.