RIYADH: Egypt’s Suez Canal Economic Zone has signed an initial agreement with Germany’s H2-Industries to build a $4 billion waste-to-hydrogen facility at a greenfield site in Port Said. The project targets a production capacity of 300,000 tons per year of green hydrogen, according to a statement from the Egyptian Cabinet. “We are working to attract green hydrogen projects in accordance with the Egyptian state’s strategy to transform into a green economy,” said chairman Yehia Zaki. The zone recently signed six initial agreements with international companies for green hydrogen and ammonia projects as it will be hosting the COP27 climate summit in November.