Qatar Takes Part In SAF Project In Egypt

(MENAFN- Brazil-Arab News Agency (ANBA)) São Paulo – QNB Egypt, a subsidiary of Qatar National Bank (QNB), announced its participation as a financier of a sustainable aviation fuel (SAF) production facility in Egypt. The Qatari state news agency QNA reported that, with this financing QNB is supporting one of the most important sustainable infrastructure projects in the region.

The Egyptian project is led by Green Sky Capital, which aims to make it one of the largest SAF production facilities in the Middle East and Africa. Located near the Suez Canal, once it begins operations at the end of 2027, the facility is expected to produce up to 200,000 tonnes of biofuel per year. According to industry estimates, the plant could account for more than 10% of current global SAF production.

The Egyptian project is led by Green Sky Capital, which aims to make it one of the largest SAF production facilities in the Middle East and Africa. Located near the Suez Canal, once it begins operations at the end of 2027, the facility is expected to produce up to 200,000 tonnes of biofuel per year. According to industry estimates, the plant could account for more than 10% of current global SAF production.

The agreement was signed by QNB Egypt CEO Mohamed Bedeir. QNB Group CEO Abdulla Mubarak Al Khalifa said the financing reflects“QNB's commitment to backing projects that deliver both economic value and long-term sustainability outcomes across the region.” According to him, investments in innovative, technology-based solutions are a core part of the group's strategy.

Sustainable aviation fuel is seen as essential in efforts to reduce carbon emissions in the aviation sector, one of the hardest to decarbonize. Aircraft currently use aviation kerosene, which is derived from oil.

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Translated by Guilherme Miranda

QNB

The post Qatar takes part in SAF project in Egypt appeared first on ANBA News Agency.

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