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Suez Canal, Scatec Sign $1.1 Bln Green Methanol MoU

An aerial view of the Gulf of Suez and the Suez Canal are pictured through the window of an airplane on a flight between Cairo and Doha, Egypt, November 27, 2021. REUTERS/Amr Abdallah Dalsh/File Photo
An aerial view of the Gulf of Suez and the Suez Canal are pictured through the window of an airplane on a flight between Cairo and Doha, Egypt, November 27, 2021. REUTERS/Amr Abdallah Dalsh/File Photo
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Suez Canal, Scatec Sign $1.1 Bln Green Methanol MoU

An aerial view of the Gulf of Suez and the Suez Canal are pictured through the window of an airplane on a flight between Cairo and Doha, Egypt, November 27, 2021. REUTERS/Amr Abdallah Dalsh/File Photo
An aerial view of the Gulf of Suez and the Suez Canal are pictured through the window of an airplane on a flight between Cairo and Doha, Egypt, November 27, 2021. REUTERS/Amr Abdallah Dalsh/File Photo

Egypt's Suez Canal economic zone and Scatec ASA have signed a memorandum of understanding (MoU) worth $1.1 billion to supply ships with green fuel, a Suez Canal statement said on Sunday.

The MoU agreed on the sidelines of the COP28 conference held in Dubai envisages production of 100,000 tons of green methanol per year by 2027, the statement said.

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Saudia Group Signs Deal with Airbus to Acquire up to 20 Wide-Body Aircraft

Saudia Group announced a new aircraft deal with Airbus to enhance its fleet - AFP
Saudia Group announced a new aircraft deal with Airbus to enhance its fleet - AFP
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Saudia Group Signs Deal with Airbus to Acquire up to 20 Wide-Body Aircraft

Saudia Group announced a new aircraft deal with Airbus to enhance its fleet - AFP
Saudia Group announced a new aircraft deal with Airbus to enhance its fleet - AFP

Saudia Group announced in a press release on Wednesday a new aircraft deal with Airbus to enhance its fleet by adding up to 20 new wide-body A330neo aircraft, 10 of which are firm orders for flyadeal, the group’s low-cost carrier.
The signing ceremony was held at the Airbus factory in Toulouse, France, attended by Saudia Group Director General Ibrahim Al-Omar and Airbus Commercial Aircraft business CEO Christian Scherer. The deal was signed by Saudia Group Vice President of Fleet Management Saleh Eid and Airbus Executive Vice President of Sales of Commercial Aircraft Benoît de Saint-Exupéry, SPA reported.
Al-Omar stated: “Today’s deal marks a pivotal milestone in our ambitious strategy to modernize and expand our fleet. It builds on last year’s historic deal with Airbus for 105 aircraft. This step aligns with our national strategies under Saudi Vision 2030, which aim to connect 250 destinations and facilitate the travel of over 330 million travelers and 150 million tourists by 2030.”
He added: “This deal supports Saudia Group’s plans to grow and improve its operations. It adds to the modernization of our fleet, improves aircraft maintenance, and makes our overall operations more efficient.”
According to the release, Saudia Group currently operates a fleet of 194 aircraft, serving commercial aviation, cargo operations, and logistics services. "The group is set for significant expansion, with 191 new aircraft scheduled for delivery in the coming years," it added.