CAIRO, June 1 (Xinhua) -- The Suez Canal Economic Zone (SCZone) signed on Wednesday a deal with the German company H2 Industries to build a 4-billion-U.S. dollar waste-to-hydrogen plant in the northeastern province of Port Said, the SCZone authority said in a statement.
"The two parties have signed a memorandum of understanding (MoU) for building a plant capable of producing 300,000 tonnes of green hydrogen per year using organic waste and non-recyclable plastic," said the statement.
The signing ceremony took place on the sidelines of the 6th edition of the Egypt Can with industry Conference which is being held in the New Administrative Capital.
"This project is one of the sectors targeted by the (SCZone) authority in accordance with the Egyptian government's strategy for transforming into a green economy," Yehia Zaki, chairman of the SCZone authority, was quoted as saying in the statement.
The plant is expected to dispose of 4 million tonnes of municipal solid waste per year, according to the statement.
In May, the SCZone authority said it had signed six green fuel MoUs with a potential total investment of 10 billion dollars in the Ain Sokhna region in eastern Egypt.
The SCZone, an economic hub in Egypt, consists of six ports and four industrial zones. ■