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In line with the Middle East Green Initiative launched by His Royal Highness Crown Prince Mohammed Bin Salman, alfanar has signed a memorandum of understanding (MoU) with the General Authority of the Suez Canal Economic Zone (SCZone), the Sovereign Fund of Egypt (TSFE), the Egyptian Electricity Transmission Company (EETC) and the New and Renewable Energy Authority (NREA), to develop a green ammonia facility in Egypt.
The $3.5 billion project will use renewable energy sources and produce 500,000 tons of green ammonia from 100,000 tons of green hydrogen per year.
The agreement was signed in the presence of His Excellency Mostafa Madbouly, Prime Minister of Egypt; Mohamed Shaker, Minister of Electricity and Renewable Energy; Hala Elsaid, Minister of Planning & Economic Development; along with Saudi officials, Faisal A. Al-Yemni, Deputy Minister of Investment; and Mazeed Al-Hoishan, Saudi Consul to Egypt. alfanar was represented in the signing ceremony by Eng. Sabah Al-Mutlaq, Managing Director of alfanar Projects; Eng. Jamal Wadi, President of alfanar Projects; and Eng. Amer Al Ajmi, Executive Vice President of Sales and Marketing.
Sabah Al-Mutlaq stated, “We have enjoyed a long-standing relationship with Egypt and are thrilled to partner with such esteemed organizations of national importance on this program. Through this agreement, we will be developing a project to produce green hydrogen and green ammonia.”