Zisiang added, during a meeting attended by Egyptian President Abdel Fattah El-Sisi, on Saturday, that the expansion in Egypt during the next stage comes due to what the company has closely monitored in terms of the qualitative development in the size and quality of the infrastructure and industrial facilities that have been built and modernized in the country during the past few years.
The Chairman of the Board of Directors of the “China International Energy” Group stated that the development witnessed by Egypt in the recent period provided new investment opportunities that were not available before, referring to the tangible improvement that occurred in the road network, transportation and communications, new cities, sea ports, and in the areas of desalination plants. Water treatment, electricity and new and renewable energy.
In early November, the Egyptian Cabinet announced its aim to increase the gross domestic product by between ten billion and $18 billion by 2025, within the framework of the national strategy for green hydrogen.
The government said in a statement at the time that the strategy aims to acquire eight percent of the global hydrogen market, adding that “Egypt has the ability to produce green hydrogen at the lowest cost in the world.”
The statement added, “The cost of producing green hydrogen is set to decrease to $1.7 per kg in 2050, compared to $2.7 per kg in 2025.”
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