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Egypt invests more than $1 billion in green projects ahead of COP27

Egypt is expanding its implementation of green projects ahead of hosting the 2022 UN Climate Change Conference.
Egypt's President Abdel Fattah al-Sisi presents his national statement.

CAIRO — Egyptian Petroleum Minister Tarek el-Molla has recently announced that plans are underway to implement three green petrochemical projects with a total value of $1.2 billion.

In a press statement on May 4, Molla explained that the three projects include a $600 million biofuel production plant with a production capacity of 350,000 tons of biofuels from algae oil per year, expected to cut CO2 emissions by up to 1.2 million tons annually. 

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