Egypt, Norway’s Scatec Sign MOU on Green Ammonia Project

Shipping containers pass through the Suez Canal in Ismailia, Egypt October 5, 2021. REUTERS/Mohamed Abd El Ghany
Shipping containers pass through the Suez Canal in Ismailia, Egypt October 5, 2021. REUTERS/Mohamed Abd El Ghany
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Egypt, Norway’s Scatec Sign MOU on Green Ammonia Project

Shipping containers pass through the Suez Canal in Ismailia, Egypt October 5, 2021. REUTERS/Mohamed Abd El Ghany
Shipping containers pass through the Suez Canal in Ismailia, Egypt October 5, 2021. REUTERS/Mohamed Abd El Ghany

Egypt has signed a memorandum of understanding for a $5 billion project with Norway’s Scatec (SCATC.OL) to build its first green ammonia plant in the Suez Canal Economic Zone, the cabinet said on Thursday.

The green ammonia plant near the Red Sea port and industrial zone of Ain Sokhna would have production capacity of one million tons annually with the potential to expand to three million tons, the cabinet statement said.

The deal was agreed between Scatec, the Suez Canal Economic Zone, Egypt's Sovereign Fund and its Ministry of Electricity and Renewable Energy.

Scatec had signed an MOU with Egypt in December to study the development of a green ammonia plant that would be fueled by green hydrogen produced by renewable power.

The plant would be expected to start production in 2025, and the green ammonia would mainly be exported to European and Asian markets where demand for clean ammonia is growing rapidly, a joint statement issued by Scatec on Thursday said.

Egypt will host the COP27 climate conference in November and is pushing to develop green energy projects, including for the production of green hydrogen.

Separately, Egypt's annual urban consumer price inflation surged to its highest in nearly three years in February, driven by a sharp increase in food prices, figures from the state statistics agency CAPMAS showed on Thursday.

Inflation rose to a higher-than-expected 8.8% year on year from 7.3% in January, putting it near the upper limit of the central bank's 5-9% target range and indicating that the bank's monetary policy committee may increase interest rates when it meets on March 24.

February's inflation figure was the highest since June 2019.

Food prices rose 4.6% month on month in February, with vegetable prices jumping 17.2%.

Prices were pushed upwards by an increase in raw material and commodity prices worldwide that has been going on since the beginning of 2021, said Radwa El-Swaify of Pharos Securities Brokerage.

"Companies at the end of 2020 had stocked up on cheap inventory and were using it during 2021. So once this cheap stock started to deplete and they were buying at the higher prices, they started to become more expressive in terms of their own price increases,” she said.



Gaza Rescuers Say 23 Killed in Israel Strike on Residential Block

A man walks amid the rubble of a building as Palestinian rescuers work at the site of an Israeli strike on a residential area in Gaza City's Shujaiya neighborhood, on April 9, 2025. (AFP)
A man walks amid the rubble of a building as Palestinian rescuers work at the site of an Israeli strike on a residential area in Gaza City's Shujaiya neighborhood, on April 9, 2025. (AFP)
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Gaza Rescuers Say 23 Killed in Israel Strike on Residential Block

A man walks amid the rubble of a building as Palestinian rescuers work at the site of an Israeli strike on a residential area in Gaza City's Shujaiya neighborhood, on April 9, 2025. (AFP)
A man walks amid the rubble of a building as Palestinian rescuers work at the site of an Israeli strike on a residential area in Gaza City's Shujaiya neighborhood, on April 9, 2025. (AFP)

Gaza's civil defense agency said an Israeli strike on a residential building in Gaza City killed at least 23 people Wednesday, most of them children or women, as the military said it targeted a "senior Hamas" fighter.

The latest strike comes weeks into a renewed offensive by Israel's military on the war-battered territory, which has displaced hundreds of thousands, while an aid blockade has revived the specter of famine for its 2.4 million people.

The strike took place in the Shujaiya neighborhood of Gaza City, the agency's spokesman Mahmud Bassal told AFP.

"The death toll from the Shujaiya massacre has risen to 23 martyrs, including eight children and eight women," he said, adding that more than 60 people were wounded.

"There are still people trapped under the rubble."  

Ayub Salim, a 26-year-old Shujaiya resident, told AFP he witnessed the strike on the four-storey block.  

He said the area was hit with "multiple missiles" and was "overcrowded with tents, displaced people and homes".  

"Shrapnel flew in all directions," he said, speaking of "a terrifying and indescribable scene".  

"Dust and massive destruction filled the entire place, we couldn't see anything, just the screams and panic of the people".  

Salim said the dead were "torn to pieces".  

"Even now, emergency crews are still transporting the dead and the injured. It is truly a horrific massacre," he said.  

A crew from the Gaza civil defense agency rushed to the scene, only to find several people trapped under the rubble, a rescuer said.

"This house was home to many people who believed they were safe. It was blown up over their heads," Ibrahim Abu al-Rish told AFP while men worked hard to clear out rubble behind him.  

He added that the strike hit while many children were playing inside.  

"The house was directly bombed, and the entire residential area was destroyed," he said.  

"We pulled out the remains of women and children. There are still people buried under the rubble."  

First responders and neighbors worked to break through the concrete floor of an entire storey that collapsed in the strike and trapped residents.  

Taking turns swinging a sledgehammer through the thick, hard surface, they eventually broke a hole through which the bodies of children were extracted and taken away wrapped in dusty blankets.  

- 'Bloody massacre' -  

When asked by AFP about the strike, the Israeli military said it "struck a senior Hamas terrorist who was responsible for planning and executing terrorist attacks" from the area.  

It did not give the target's name and renewed its claim that the group uses "human shields", which Hamas denies.  

Hamas condemned the strike as one of the "most heinous acts of genocide."  

"The terrorist Zionist occupation army has committed a bloody massacre by bombing a densely populated residential area filled with civilians and displaced people," the group said in a statement.

"These ongoing massacres against our defenseless people -- with full support from the American administration, which is complicit in the aggression -- represent a stain on the conscience of the international community."  

The Ramallah-based Palestinian Authority's foreign ministry condemned the strike as a "heinous massacre".  

"The ministry considers it an official Israeli attempt to systematically kill our people en masse and destroy the very foundations of their existence in the Gaza Strip, thus forcing them to emigrate," it said in a statement.  

Israel resumed intense strikes on the Gaza Strip on March 18, ending a two-month ceasefire with Hamas. Efforts to restore the truce have so far failed.  

The health ministry in the Hamas-run territory said on Wednesday that at least 1,482 Palestinians have been killed in the renewed Israeli operations, taking the overall death toll since the start of the war to 50,846.  

Hamas's October 2023 attack that triggered the war resulted in the deaths of 1,218 people on the Israeli side, mostly civilians, according to an AFP tally based on Israeli official figures.  

Hossam Badran, a member of Hamas's political bureau, told AFP on Tuesday that it was "necessary to reach a ceasefire" in Gaza.  

He added that "communication with the mediators is still ongoing" but that "so far, there are no new proposals".  

US President Donald Trump and Israeli Prime Minister Benjamin Netanyahu said on Monday that new negotiations were in the works aimed at getting more hostages released from captivity in Gaza.  

Of the 251 hostages seized during Hamas's attack on Israel, 58 are still held in Gaza, including 34 the Israeli military says are dead.