The Egyptian Ministry of Environment concluded an agreement for cooperation with the Suez Canal Economic Zone (SCZone) to provide funding for green initiatives for companies in the zone, according to a statement released by the ministry.
The agreements seek to assist Egyptian corporations become more efficient by eliminating the consumption of energy and resources and complying with national and global requirements regarding the environment, according to Environment Minister Yasmine Fouad.
According to the agreement, the environment ministry will assist in the development of a sustainability plan for the SCZone, which will involve training for zone workers and enterprises on adopting sustainable production targets and assessing product carbon footprints, the minister added.
Three more agreements
The EEAA also signed agreements with three companies – El Nasr for Fertilizers and Chemical Industries (SEMADCO), Flex P Films, and Huhtamaki Egypt – to support the green transformation of industrial facilities, according to the statement.
SEMADCO is building a 13.57 million euro wastewater treatment plant in Suez, with 11.8 million euros coming from the Egyptian Pollution Abatement Programme (EPAP) at the EEAA.
Meanwhile, Flex P Films is building a recycling facility for polyethylene terephthalate (PET) plastic at a cost of 16.05 million euros, with 7 million euros coming from the EPAP.
Huhtamaki Egypt is developing an ethyl acetate solvent recovery unit at 3.59 million euros, with 2.84 million euros coming from the EPAP.
The EEAA also signed an agreement with the Egyptian Ministry of Foreign Affairs, UN Development Programme and French Development Agency (AFD) for a 1.5 million euro project to help Egyptian banks finance climate change projects such as renewable energy.
