Egypt, Maersk's C2X deal for green fuel production

The agreement worth up to $3 billion will allow the production of green fuel and its derivatives in the Suez Canal economic zone.
Wednesday 04/10/2023
Maersk

DUBAI - Egypt and Maersk's C2X signed a new framework agreement worth up to $3 billion for the production of green fuel and its derivatives in the Suez Canal economic zone, according to a statement released on Wednesday.

Maersk, a Danish shipping and logistics company, teamed up in September with its majority owner to form C2X as a new company to pursue large-scale green methanol projects near the Suez Canal in Egypt and the port of Huelva in Spain, as well as in several other locations.