Cabinet Approves Bill on Incentives of Projects of Green Hydrogen, Its DerivativesSource: www.export-egypt.com 5/17/2023, Location: Africa |
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The Cabinet approved - during its meeting under Prime Minister Moustafa Madbouli - a bill on incentives for projects of green hydrogen and its derivatives.
The bill stipulated that the law will govern agreements on projects of green hydrogen and its derivatives over five years as of putting the law into effect. The projects include green hydrogen projects, water desalination stations, and stations for generating electricity from renewable energy. The provisions of the law will also be applicable on future expansions of the projects included in the law. Under the law, projects of green hydrogen and its derivatives will get a cash investment incentive ranging between 33 percent and 55 percent of the value of taxes due to be paid. The incentives also include exemption of value added taxes of equipment, raw material and transportation means. |
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