Misr Fertilizers Production Company “Mopco” signed an agreement for a green ammonia production project in Damietta during the Egyptian-European Joint Investment Conference held in Cairo on June 29 and 30.
The signing ceremony was witnessed by Prime Minister Mostafa Madbouly, bringing together the Egyptian Petrochemicals Holding Company “Echem”, Misr Fertilizers Production Company, and the Norwegian company Scatec. The event was attended by Engineer Tarek El Molla, Minister of Petroleum and Mineral Resources, Dr. Mohamed Shaker El-Markabi, Minister of Electricity and Renewable Energy, Dr. Hala El-Said, Minister of Planning and Economic Development, Dr. Rania Al-Mashat, Minister of International Cooperation, and European Commissioner for Trade, Valdis Dombrovskis.
Minister of Petroleum and Mineral Resources, Tarek El Molla confirmed that the agreement reflects confidence in the project and the investment climate in Egypt. He noted that the initial investment cost is approximately 890 million dollars, aiming to produce 150,000 tons of green ammonia annually. The project also aims to generate 480 megawatts of renewable energy from wind and solar power.
El Molla explained that the project aims to produce green ammonia using the production capacity available at Misr Fertilizers Production Company, noting that the main terms and conditions of the contract ensure the success of securing the green ammonia project, which will be produced by the project in partnership with the Norwegian company Yara.
The project also includes the establishment of a seawater desalination plant and a marine jetty to export green ammonia from the port of Damietta. The operation is expected to begin in 2027.
It is worth noting that the joint development agreement for the project was signed in February 2023 between the Egyptian Petrochemicals Holding Company, Misr Fertilizers Production Company, and the Norwegian company Scatec. The founding meeting was
held virtually as the first company to be established electronically in Egypt. This project is part of Egypt’s national strategy to enhance its capabilities in clean energy and reduce carbon emissions.