Arab Finance: As part of his current visit to the State of India, Eng. Hassan Al -Khatib, Minister of Investment and Foreign Trade, Ranjett Gupta, founder and CEO of Ocior Energy, met to discuss ways to enhance cooperation in the field of clean energy and sustainable investments in Egypt.
The Minister praised the existing cooperation between Ocior Energy and the Egyptian government, noting that Egypt continues to attract investments in projects Renewable energy Green hydrogen, taking advantage of its strategic location, advanced infrastructure and continuous economic reforms.
Al -Khatib also stressed that the Egyptian government is committed to providing all the necessary facilities to support foreign direct investments, especially in the green hydrogen and renewable energy sector, which represents one of the strategic axes to achieve sustainable development and enhance Egypt's position as a regional center for clean energy.
For his part, Ranjett Gupta, founder and CEO of Ocior Energy, expressed his appreciation for cooperation with the Egyptian government, the company is looking to enhance its investments in Egypt during the next stage, noting that Ocior Energy sees in Egypt a strategic partner and an ideal site to develop its ambitious projects in the field of renewable energy and green hydrogen.
He added that Ocior Energy is one of the world's leading companies in the development of green hydrogen and green hydrogen projects, as the company works to build and operate renewable energy facilities, which contribute to achieving environmental sustainability and enhancing the shift towards clean energy.
It is worth noting that Ocior Energy signed a memorandum of understanding with the Egyptian government in December 2022 to establish a huge investment project in the economic zone of the Suez Canal for the production of green ammonia of green hydrogen, with investments estimated at 4.2 billion dollars, and as a result of the joint efforts between the Egyptian embassy and the commercial office in India, a final framework agreement was reached, which was signed on June 30, 2024 with the Egyptian government, and that On the sidelines of the investment conference with the European Union.
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