Honeywell Intends To Invest ~$200M In Egypt: Reuters

Honeywell International Inc HON intends to invest ~$200 million in petrochemicals and the production of green fuels for aircraft in Egypt, according to Honeywell's country president for Egypt, as cited by the Ministry of Petroleum, reports Reuters.
Khaled Hashem added during discussions with Egypt's minister of petroleum that Egypt has the potential to become a pivotal centre linking Europe to the Middle East in green fuel projects to supply ships and produce hydrogen and ammonia.
Also read: Honeywell Looks For More Suppliers To Support Boeing, Airbus Aircraft Targets: Reuters
Price Action: HON shares closed lower by 0.20% at $194.94 on Thursday.