The event was attended by Walid Gamal El-Din, Chairman of
SCZone; Abdulaziz Al Mana, CEO of Al Mana Holding and Chairman of Green Sky
Capital; and Moustafa Sheikhoun, Vice
Chairman of SCZone for Investment and Promotion.
The contract was signed by Captain Ahmed Gamal, SCZone Vice
Chairman for the Southern Region, and Saad Mohammed Al Mana, Board Member of Al
Mana Holding.
This project represents the first Qatari industrial
investment within SCZone. The investment totals $200 million, approximately EGP
9.6 billion, and is being implemented on a total area of 100,000 square meters
in the Ain Sokhna Integrated Zone—70,000 m² in the industrial area and 30,000
m² at Ain Sokhna Port. The project’s annual production capacity is 200,000
tons, including sustainable aviation fuel (HVO), BioPropane, and Bio Naphtha,
all derived from refining used cooking oils. Al Mana Holding has secured a
long-term supply agreement with Shell to purchase all project outputs, with
sustainable aviation fuel expected to begin delivery by the end of 2027.
Madbouly welcomed the project, describing it as a strategic
addition that strengthens SCZone’s capabilities in aligning with the global
shift toward renewable energy. He emphasized that the project supports
ambitious national plans, particularly in developing the aviation sector under
environmental sustainability standards, amid expectations for significant
global growth in the sector.
The Prime Minister noted that the signing of this contract
coinciding with the Egyptian-Qatari Business Forum in Cairo demonstrates the
positive momentum in bilateral relations between Cairo and Doha, reflecting the
sincere desire of the political leadership in both countries to advance
cooperation and translate it into projects that increase joint investments and
boost trade.
Gamal El-Din highlighted that SCZone has become a prime
destination for global investors, due to its world-class infrastructure and
facilities, diverse energy sources, skilled workforce, and supportive
legislative environment with direct and indirect investment incentives. He
stressed that localizing this vital industry represents a significant leap
forward, adding to the Authority’s achievements in recent years.
He added that environmental sustainability is a key pillar
of SCZone’s strategy, noting that the SAF project reduces harmful emissions by
50–80% compared to conventional fuels. He praised the project’s success in
securing an offtake agreement with Shell to supply global markets, which will
enhance SCZone’s exports and support Egypt’s plans to boost exports and
substitute imports, contributing to the country’s overall economic development.
Abdulaziz Al Mana expressed his pleasure at cooperating with
SCZone, praising Egypt’s promising investment environment and the role of the
Authority and government in facilitating all project requirements. He
emphasized that continuous support from the political leadership in both Qatar
and Egypt is the driving force behind the project, which represents an
exceptional partnership and underscores the strong bilateral relations between
the two countries.