{"id":611303,"date":"2023-12-05T00:00:00","date_gmt":"2023-12-05T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/12\/05\/the-state-wants-an-even-bigger-share-of-the-countrys-nascent-green-fuel-industry\/"},"modified":"2023-12-05T00:00:00","modified_gmt":"2023-12-05T00:00:00","slug":"the-state-wants-an-even-bigger-share-of-the-countrys-nascent-green-fuel-industry","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/12\/05\/the-state-wants-an-even-bigger-share-of-the-countrys-nascent-green-fuel-industry\/","title":{"rendered":"The state wants an even bigger share of the country\u2019s nascent green fuel industry"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>One isn\u2019t enough: <\/strong>A group of state-owned companies are looking to set up a second plant for producing green fuel in the Suez Canal Economic Zone (SCZone), <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/38ts3m5y\" style=\"\" rel=\"noopener\">Asharq Business<\/a> reported yesterday, citing two sources it said have knowledge of the matter. The consortium, which includes Helwan Fertilizers, Abu Qir Fertilizers, and the National Bank of Egypt\u2019s investment arm Al Ahly Capital Holding, are already working on a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/421bbe7e-ffb4-4d3c-92ad-0fea152b4913\" style=\"\" rel=\"noopener\">USD 2.6 bn green methanol plant<\/a> in Ain Sokhna and now have their eyes on a green ammonia project, according to the news outlet.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What we know:<\/strong><\/p>\n<ul>\n<li>Asharq reports that the proposed project <strong>would require USD 1.2 bn<\/strong> of investment, 70% of which would be financed by bank loans and the remainder from the companies\u2019 cash reserves. <\/li>\n<li>Construction is expected to start <strong>by the end of 2025<\/strong> and take three years to complete.<\/li>\n<li>The project is being undertaken by <strong>Misr Methanol and Petrochemicals<\/strong>, a joint venture <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d8dda647-67d3-430a-a518-b79805765cb2\" style=\"\" rel=\"noopener\">established by the three companies<\/a> in 2021 to manufacture methanol, ammonia, and other petrochemicals.<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What we don\u2019t: <\/strong>No information about the capacity of the plant was provided. We were unable to reach any of the three companies for comment yesterday.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>THAT BEING SAID- There is plenty of private-sector interest<\/strong> in Egypt as a potential regional green fuel hub:<\/p>\n<ul>\n<li>Danish shipping giant <strong>Maersk<\/strong> intends to make the SCZone one of its global green fuel production hubs and earlier this year <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f946badd-a338-4c7b-ada3-f1965c01a6bd\" style=\"\" rel=\"noopener\">signed a framework agreement<\/a> to set up a green methanol facility with a production capacity of 300k tons a year.<\/li>\n<li>Norwegian renewables developer <strong>Scatec<\/strong> has signaled intent to establish <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/385ee449-1e59-4897-88ea-75f283938d30\" style=\"\" rel=\"noopener\">green<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/385ee449-1e59-4897-88ea-75f283938d30\" style=\"\" rel=\"noopener\">ammonia<\/a> and <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/47413417-b184-4c5b-9675-832759b90a72\" style=\"\" rel=\"noopener\">methanol<\/a> plants in the SCZone.<\/li>\n<li><strong>A number of multinational energy firms<\/strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0f2251cd-82db-4ba9-9ef9-b1287b0bef1f\" style=\"\" rel=\"noopener\">signed framework agreements<\/a> at last year\u2019s COP27 last year for green ammonia plants which would have a combined annual production capacity of 4.6 mn tons, though there have been no updates on any of the six projects in the 12 months since.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>The project will be set up by Helwan Fertilizers, Abu Qir Fertilizers, and Al Ahly Capital Holding<\/p>\n","protected":false},"author":1,"featured_media":611304,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","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":[7207],"tags":[548,1935,93,72,1382,11833],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-611303","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-energy","tag-abu-qir-fertilizers","tag-al-ahly-capital-holding","tag-energy","tag-enterpriseam","tag-green-ammonia","tag-helwan-fertilizers","wpautop","entry"],"acf":{"mongo_id":"a25f4d53-d1d8-4cb1-8edd-5a07a2934d63","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 state-owned companies want to set up a second green fuel plant","related_issue":[611296],"teaser":"The project will be set up by Helwan Fertilizers, Abu Qir Fertilizers, and Al Ahly Capital Holding","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/12\/.99370ea7-e3a5-4005-8d03-65a71f7df687.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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A shareholder agreement has been signed establishing Misr Methanol and Petrochemicals, which will manufacture methanol, ammonia, and other petrochemicals, the Oil Ministry announced today in a statement.Around USD 1.6 bn will\u2026","rel":"","context":"In &quot;SPEED ROUND: ENERGY&quot;","block_context":{"text":"SPEED ROUND: ENERGY","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round-energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/8\/525.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":554156,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/12\/22\/sczone-signs-off-on-land-contract-for-usd-2-6-bn-methanol-plant-in-ain-sokhna\/","url_meta":{"origin":611303,"position":1},"title":"SCZone signs off on land contract for USD 2.6 bn methanol plant in Ain Sokhna","author":"enterpriseam admin","date":"22 December 2021","format":false,"excerpt":"SCZone signs off on Ain Sokhna\u2019s USD 2.6 bn methanol plant: The General Authority for the Suez Canal Economic Zone (SCZone) has signed a land use contract with a company jointly owned by Abu Qir Fertilizers, Helwan Fertilizers, and Al Ahly Capital Holding, to establish a methanol plant at Egypt's\u2026","rel":"","context":"In &quot;Manufacturing&quot;","block_context":{"text":"Manufacturing","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/manufacturing\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/12\/448.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":651228,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/02\/07\/consortium-looking-to-raise-usd-700-mn-to-build-phosphoric-acid-and-phosphorous-fertilizers-factory\/","url_meta":{"origin":611303,"position":2},"title":"Consortium looking to raise USD 700 mn to build phosphoric acid and phosphorous fertilizers factory","author":"enterpriseam admin","date":"7 February 2017","format":false,"excerpt":"A consortium of seven public companies is pursuing a USD 700 mn loan to build a phosphoric acid and phosphorous fertilizers factory in the New Valley, unnamed government sources tell Al Mal. The factory will produce phosphoric acid and phosphorous fertilizers with an annual capacity of 500k tonnes, the source\u2026","rel":"","context":"In &quot;Basic Materials + Commodities&quot;","block_context":{"text":"Basic Materials + Commodities","link":"https:\/\/enterpriseam.com\/egypt\/category\/basic-materials-commodities\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":587261,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/05\/24\/the-state-is-setting-up-a-new-fertilizer-company\/","url_meta":{"origin":611303,"position":3},"title":"The state is setting up a new fertilizer company","author":"enterpriseam admin","date":"24 May 2023","format":false,"excerpt":"The company will produce several chemicals used to manufacture fertilizer","rel":"","context":"In &quot;Also on our Radar&quot;","block_context":{"text":"Also on our Radar","link":"https:\/\/enterpriseam.com\/egypt\/category\/also-on-our-radar\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/5\/1322.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":664657,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/05\/05\/abu-qir-fertilizers-net-income-drops-35-5-y-o-y-in-9m-fy-2024-25\/","url_meta":{"origin":611303,"position":4},"title":"Abu Qir Fertilizers\u2019 net income drops 35.5% y-o-y in 9M FY 2024-25","author":"enterpriseam admin","date":"5 May 2025","format":false,"excerpt":"The company\u2019s revenues, however, saw a 20.3% y-o-y increase","rel":"","context":"In &quot;EARNINGS WATCH&quot;","block_context":{"text":"EARNINGS WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/earnings-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/11\/876.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":575259,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/10\/07\/your-top-infrastructure-stories-6\/","url_meta":{"origin":611303,"position":5},"title":"Your top infrastructure stories","author":"enterpriseam admin","date":"7 October 2020","format":false,"excerpt":"Your top infrastructure stories for the week include: Amazon is considering Egypt as its next hub for the manufacture of its own-brand products including apparel and houseware as well as electronics such as its Kindle readers and Alexa smart speaker.Factories could see their gas bills cut to at least USD\u2026","rel":"","context":"In \"Actis\"","block_context":{"text":"Actis","link":"https:\/\/enterpriseam.com\/egypt\/tag\/actis\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/611303","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=611303"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/611303\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/611296"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/611304"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=611303"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=611303"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=611303"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=611303"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=611303"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}