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CAIRO/DUBAI, April 24 (Reuters) - Egypt said on Sunday it would cooperate with the United Arab Emirate's Abu Dhabi Future Energy Company (Masdar) on the production of green hydrogen.

Masdar and Hassan Allam (HA) Utilities, a subsidiary of Hassan Allam Holding, will form a strategic alliance to develop green hydrogen production plants in the Suez Canal Economic Zone and on the Mediterranean coast, to produce up to 480,000 tons of green hydrogen annually, the Egyptian cabinet said in a statement.

"In the first phase of the project, Hassan Allam Utilities and Masdar aim to establish a green hydrogen manufacturing facility, which would be operational by 2026, producing 100,000 tonnes of e-methanol annually for bunkering in the Suez Canal", Amr Allam, chief executive of Hassan Allam Holding, was quoted as saying by the UAE's state news agency (WAM).

"The electrolyser facilities in the Suez Canal Economic Zone and on the Mediterranean could be extended to up to 4 GW by 2030 to produce 2.3 million tonnes of green ammonia for export as well as supply green hydrogen for local industries", he added.