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    SSO   NO0010715139

SCATEC ASA

(SSO)
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Scatec : PM Attends Signing of Green Hydrogen Production Deal

10/14/2021 | 10:06am EST

Prime Minister Dr Moustafa Madbouli attended on Wednesday the signing of an agreement on the production of green hydrogen in the country with an electrolyser capacity of 50MW-100MW to produce green ammonia.

The deal was signed by the Sovereign Fund of Egypt, Norway's Scatec company for renewable energy and Fertiglobe company, owned by OCI N.V and ADNOC.

Under the agreement, Scatec will establish and operate a facility for producing hydrogen for the sake of Egypt Basic Industries Corporation (EBIC), which will use green hydrogen to produce large amounts of green ammonia substance annually in line with a long-running purchase contract.

The facility will be set up in the vicinity of the EBIC's edifices in Ain Sokhna.

Copyright Egypt State Information Service. Distributed by AllAfrica Global Media (allAfrica.com)., source News Service English

Stocks mentioned in the article
ChangeLast1st jan.
OCI N.V. 0.08% 24.14 Real-time Quote.53.31%
SCATEC ASA -4.43% 157.65 Real-time Quote.-51.76%
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Financials
Sales 2021 3 837 M 423 M 423 M
Net income 2021 431 M 47,4 M 47,4 M
Net Debt 2021 14 608 M 1 609 M 1 609 M
P/E ratio 2021 71,9x
Yield 2021 0,93%
Capitalization 26 153 M 2 887 M 2 880 M
EV / Sales 2021 10,6x
EV / Sales 2022 10,4x
Nbr of Employees 500
Free-Float 73,0%
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Technical analysis trends SCATEC ASA
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Mean consensus OUTPERFORM
Number of Analysts 7
Last Close Price 164,70 NOK
Average target price 185,00 NOK
Spread / Average Target 12,3%
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Managers and Directors
Raymond Carlsen Chief Executive Officer
Mikkel T°rud Chief Financial Officer
John Andersen Chairman
Jan Steffen Skogseth Independent Director
Liv GisŔle Marchand Independent Director
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