Egypt’s Suez Canal Economic Zone has signed a US$15.6 billion agreement with China’s investors for the development of green fuel manufacturing. The agreement included the establishment of 11 projects and created about 9,000 job opportunities.

The deal showed that Egypt recently tried to set a partnership with international entities to produce green hydrogen and its derivatives in the Suez Canal Zone.

In the fiscal year 2022 and 2023, the zone’s revenues hit a record high of US$196 million.