Egypt launches new company to focus on SAF production
In Egypt, Egypt Oil & Gas reported that the Egyptian Government launched a SAF company to drive green energy transition. The country’s Minister of Petroleum and Mineral Resources Karim Badawi chaired the founding assembly of the ESAF firm via video conference, joined by Ibrahim Mekki, Chairman of the Egyptian Petrochemicals Holding Company (ECHEM), along with other shareholders. ESAF’s ownership structure comprises an 85% stake held by Egyptian public petroleum sector companies and a 15% stake owned by the private sector, the report added. Mekki outlined the project’s scope, with a design capacity of 120,000 tons per year, utilizing locally sourced waste as a primary feedstock, and employing state-of-the-art global technology. The project aims to reduce carbon dioxide emissions by up to 400,000 tons annually, with an estimated investment cost of around $530 million, the report added. Located in Alexandria Governorate, the project complements existing petroleum sector operations in the area, with production expected to begin in the next few years, it added.
