Al Shorouk: Suez Canal Economic Zone Authority seeks £20bn loan

The Egyptian newspaper Al-Shorouk, citing sources, reported that the General Directorate of the Suez Canal Economic Zone asked the state bank to double the amount of the loan that the authorities were seeking to obtain, up to 20 billion pounds.

The sources said that a request for financing a loan related to the construction of infrastructure in the Sukhna and East Port Said areas for the creation of hydrogen projects is currently being studied.
The loan term is 20 years and will be guaranteed by the Ministry of Finance.
In May last year, the authorities announced the signing of 6 memorandums of understanding on green hydrogen and green ammonia projects with major international companies and alliances, on the establishment of industrial facilities and complexes in the Sokhna region to produce green fuel and use it to supply ships or export. to overseas markets as part of the Suez Canal Economic Zone plan in the Sokhna area To be a leading regional center in the field of green hydrogen industry.

Source: Egyptian Sunrise.