Arab Finance: The Egyptian government is set to sign eight new memoranda of understanding (MoUs) in the field of green hydrogen production soon, the Suez Canal Economic Zone’s (SCZone) head Waleid Gamal El-Dien told CNBC Arabia on March 26th.

In an interview, Gamal El-Din did not reveal any details about the potential companies or the timeframe for signing the MoUs.

He added that the SCZone is working to localize a number of industries, including the automotive industry.

The SCZone’s head revealed that there are advanced negotiations with a Chinese firm to localize the electric vehicles (EVs) industry, which will be announced before next June.

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