USA’s Honeywell to invest $200m in Egypt

USA’s Honeywell to invest $200m in Egypt

Honeywell is to invest about $200 million in petrochemicals and the production of green fuels for aircraft in Egypt.

The Ministry of Petroleum has quoted Honeywell Country President, Khaled Hashem, expressing Honeywell’s strong desire to work in the fields of petrochemicals and the production of green fuels for aircraft catering with investments amounting to about $200 million, in addition to projects to install RTG devices to monitor warehouses in partnership with the Egyptian General Petroleum Corporation.

During the discussions, Hashem also state that Egypt has the potential to become a pivotal hub linking Europe to the Middle East in green fuel projects to supply ships and produce hydrogen and ammonia.

Read more: Egypt’s Ministry of Petroleum and Schlumberger Launch Egypt Upstream Gateway

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