{"id":81033,"date":"2023-12-05T00:00:00","date_gmt":"2023-12-05T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2023\/12\/05\/egyptian-companies-are-reportedly-looking-to-invest-usd-1-2-bn-in-sczone-green-ammonia-plant\/"},"modified":"2023-12-05T00:00:00","modified_gmt":"2023-12-05T00:00:00","slug":"egyptian-companies-are-reportedly-looking-to-invest-usd-1-2-bn-in-sczone-green-ammonia-plant","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2023\/12\/05\/egyptian-companies-are-reportedly-looking-to-invest-usd-1-2-bn-in-sczone-green-ammonia-plant\/","title":{"rendered":"Egyptian companies are reportedly looking to invest USD 1.2 bn in SCZone green ammonia plant"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> More investment for Egypt\u2019s burgeoning petrochemicals sector: <\/strong>A consortium of three Egyptian companies are considering investing USD 1.2 bn into the first phase of a plant in the Suez Canal Economic Zone (SCZone) to produce ammonia from green hydrogen, <a target=\"_blank\" href=\"https:\/\/www.asharqbusiness.com\/article\/57735\/%D8%AA%D8%AD%D8%A7%D9%84%D9%81-%D8%AD%D9%83%D9%88%D9%85%D9%8A-%D9%85%D8%B5%D8%B1%D9%8A-%D9%8A%D8%B3%D8%B9%D9%89-%D9%84%D8%A7%D8%B3%D8%AA%D8%AB%D9%85%D8%A7%D8%B1-12-%D9%85%D9%84%D9%8A%D8%A7%D8%B1-%D8%AF%D9%88%D9%84%D8%A7%D8%B1-%D9%84%D8%A5%D9%86%D8%AA%D8%A7%D8%AC-%D8%A7%D9%84%D8%A3%D9%85%D9%88%D9%86%D9%8A%D8%A7-%D9%85%D9%86-%D8%A7%D9%84%D9%87%D9%8A%D8%AF%D8%B1%D9%88%D8%AC%D9%8A%D9%86\/\" style=\"\" rel=\"noopener\">Asharq Business<\/a> reports, citing people with knowledge of the matter.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Who\u2019s investing? <\/strong>Asharq\u2019s sources say the companies are Helwan Fertilizers, Abu Qir Fertilizers and the National Bank of Egypt subsidiary Al Ahly Capital Holding. The three firms <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d8dda647-67d3-430a-a518-b79805765cb2\" style=\"\" rel=\"noopener\">established a joint venture<\/a> called Misr Methanol and Petrochemicals (MMP) in 2021 to invest USD 1.6 bn in a methanol and ammonia plant. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>More about the SCZone project: <\/strong>The plant will produce 1 mn tons of methanol and 400k tons of ammonia annually \u2014 a portion of which will be exported \u2014 in the SCZone\u2019s Ain Sokhna site. Construction of the plant will break ground by the end of 2025 and will take three years to complete, the outlet reports. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Funding the ammonia production: <\/strong>The joint operation will turn to banks to provide 70% of the required investments, with the three shareholders providing the remaining 30%, the sources told Asharq, without detailing which banks could be in line to supply the funds. Asharq\u2019s sources did not confirm if the investments will be made via MMP. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Three state-owned firms will provide 30% of the funds needed<\/p>\n","protected":false},"author":1,"featured_media":81034,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[346],"tags":[40,11,241,39],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-81033","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-green-ammonia","tag-egypt","tag-enterpriseclimate","tag-green-ammonia","tag-green-hydrogen","wpautop","entry"],"acf":{"mongo_id":"f8a42744-8838-484a-be2e-3a7a24e1202a","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/12\/172.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Egyptian companies are reportedly looking to invest USD 1.2 bn in SCZone green ammonia plant","related_issue":[81019],"teaser":"Three state-owned firms will provide 30% of the funds needed","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/12\/.8ba3e1f7-11b9-498f-b8c3-1149d44aa7a8.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Egyptian companies are reportedly looking to invest USD 1.2 bn in SCZone green ammonia plant - Climate<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/climate\/2023\/12\/05\/egyptian-companies-are-reportedly-looking-to-invest-usd-1-2-bn-in-sczone-green-ammonia-plant\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" 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