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

by Akanksha Bakshi, Benzinga Editor
April 22, 2022 7:15 AM | 1 min read |
  • 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.
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