The Qatar Investment Authority, the investment arm of the country, is studying a new investment project in the field of renewable energy in the Suez Canal Economic Zone (SCZone) with investments exceeding $1bn.

The project will consist of a green ammonia unit with initial features that were agreed upon between Qatar Energy and Egypt’s Sovereign Fund on the side-lines of the Egyptian delegation’s visit to Qatar last month

It is expected that the injection of investments will start during the coming period.

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The production of the project will lead to ship catering or export at a later stage, noting that there are several projects being discussed with the Qatari side within the framework of renewable and clean energy.

The development of the project follows the visit of a delegation of Qatari businessmen to Egypt with the aim of strengthening cooperative relations and developing joint investments to contribute to supporting the economic development process in the two countries.

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