Egypt has finalized a $500 million investment agreement with Qatar’s Al Mana Holding to establish a large-scale Sustainable Aviation Fuel (SAF) production facility in the Ain Sokhna area of the Suez Canal Economic Zone (SCZONE), reinforcing the country’s push into green energy and export-oriented industries.
The agreement was confirmed during a meeting between Prime Minister Mostafa Madbouly and Abdulaziz Al-Mana, CEO of Al Mana Holding and Chairman of Green Sky Capital. The project will be Egypt’s first industrial-scale SAF plant, and the first of its kind in Africa and the Middle East, positioning Sokhna as a regional hub for low-carbon aviation fuels.
The facility will be developed in three phases, with Phase One backed by a $200 million investment and an initial production capacity of 200,000 tonnes per year. Total output is expected to reach 600,000 tonnes annually once all phases are completed. The plant will process used cooking oil (UCO) to produce Sustainable Aviation Fuel (HVO), alongside BioPropane and BioNaphtha.
A long-term offtake agreement with Shell has already been secured, covering the plant’s entire production. The first export shipment is expected within 18 months, with regular deliveries to Shell scheduled to begin by late 2027. Export revenues are projected to reach around $15 billion over the next decade.
The project is expected to create up to 2,000 direct jobs and more than 8,000 indirect jobs, while supporting Egypt’s transition to cleaner energy and circular-economy practices. SCZONE Chairman Waleid Gamal El-Din said the project reflects the zone’s ability to attract strategic, sustainability-driven foreign investment with strong export potential.
Officials said the SAF plant represents a milestone in Egypt–Qatar economic cooperation and positions Egypt as a key supplier of next-generation aviation fuels to global markets as the aviation sector accelerates its decarbonization efforts
