Alfanar Signs MoU to Develop Green Ammonia Facility in Sokhna
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), aiming to develop a green ammonia facility in Sokhna.
September 03, 2022. By News Bureau
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 a number of Saudi officials, including Mr. Faisal Al-Yemni, Deputy Minister for Investment, and Mr. Mazyad Al-Hoishan, Saudi Consul in Egypt.
Sabah Al-Mutlaq, Chairman of Board of Directors of Alfanar Global Development 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.”
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