Prime Minister Mostafa Madbouly held, 20-5-2023, a meeting to follow up on projects implemented by the Norwegian Scatec ASA.
Madbouli affirmed the state’s desire to continue creating an appealing climate for investments in various sectors, particularly the new and renewable energy one.
Given Egypt’s capabilities and ingredients, various state agencies are attempting to maximize the advantage of new and renewable energy as one of the country’s most promising investment sectors, Madbouli added during his meeting with Minister of Electricity and Renewable Energy Mohamed Shaker to follow up on projects implemented by the Norwegian Scatec ASA.
These include a project to manufacture green ammonia in cooperation with the Misr Fertilizers Production Company (MOPCO) to produce 150,000 tonnes annually at a cost of approximately $880 million.
The meeting also discussed a project to produce green methanol, with an objective of generating 40,000 tonnes of bio-methanol a year, which would be icreased to 200,000 tonnes annually in collaboration with the Alexandria National Refining and Petrochemical Company.
The initial investment cost is approximately $450 million, which rises to $2 billion as production capacity increases.
The project is the first of its kind in Egypt and the Middle East and will include the establishment of Egypt’s first station to supply ships with green biofuel.
