Qatar’s Green Sky Capital backs a sustainable aviation fuel facility in Egypt
The Qatar-based aviation fuel company, Green Sky Capital, recently secured funding for a sustainable aviation fuel (SAF) production facility in Egypt’s Ain Sokhna, believed to be valued at $500 million.
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The Qatar-based aviation fuel company, Green Sky Capital, recently secured funding for a sustainable aviation fuel (SAF) production facility in Egypt’s Ain Sokhna, believed to be valued at $500 million.
- Green Sky Capital is developing a sustainable aviation fuel (SAF) plant in Ain Sokhna, Egypt, aiming for completion by the end of 2027.
- The facility will be capable of producing up to 200,000 tonnes of biofuels annually, supporting aviation industry efforts to reach net-zero carbon emissions by 2050.
- Al Mana Holding from Qatar and Saudi Arabia's Vision Invest have already committed $200 million for the project's first phase.
- The project is Egypt's first Qatari industrial investment in the Suez Canal Economic Zone and will be managed by a new entity, SAF Fly Limited.
While the capital for the project has not officially been disclosed, the project’s scale has.
Intended to be strategically positioned in the North African country of Egypt, as a regional energy hub for the Middle East and North Africa (MENA) region, the facility is set to be mounted on a 100,000-square-meter site in Ain Sokhna within Egypt’s Suez Canal Economic Zone.
Once completed, it would have the capacity to produce up to 200,000 tonnes of biofuels annually, with commercial operations projected to commence by the end of 2027.
Reports indicate that Al Mana Holding of Qatar and Vision Invest, a Saudi Arabian infrastructure developer and investor, have so far provided $200 million for the project's initial phase.
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Per a statement from Green Sky Capital, the facility will help the aviation industry meet the International Air Transport Association's goal of having net-zero carbon emissions by 2050.
The project “marks a defining step in the development of our SAF platform and underscores the strategic importance of this project for the region,” Ali Shaikh, CEO of Green Sky Capital, stated.
As seen on Forbes, the facility will produce sustainable aviation fuel for jet engines, along with hydrotreated vegetable oil, biopropane, and bionaphtha.
This financing announcement aligns with the Egyptian government's prioritization of the project's strategic value.
A statement by the country’s cabinet in December disclosed that the Prime Minister of Egypt, Mostafa Madbouly, attended the formal signing of the land and development contract between the Suez Canal Economic Zone Authority (SCZone) and Qatar's Al Mana Holding Company.
Per the agreement, a new entity, SAF Fly Limited, has been established to oversee manufacturing operations.
This facility represents the inaugural Qatari industrial investment within the economic zone.
In addition to its economic impact, Egypt's geographic proximity to major global shipping corridors positions the nation to serve as a primary hub within international clean energy supply chains, streamlining the exportation of fuels derived from recycled feedstocks.
