Tarek El-Molla, Minister of Petroleum and Mineral Resources discussed with U.S. company "Honeywell" officials the feasibility study of the project currently being worked on and the possibility of establishing a new company to produce aviation fuel sustainable project in partnership between the Ministry of Petroleum, represented by the Egyptian Petrochemical Holding Company and private sector companies.
The Ministry of Petroleum explained - in a statement Friday - that the production capacity of the project is estimated at 120,000 tons annually of sustainable aviation fuel product, using used and locally available edible oil as a basic raw material, based on the latest global technologies in this field, as this fuel works It aims to reduce carbon emissions by up to 90% from traditional fuels, and it is proposed to be established next to Anerpic Company in Alexandria, with the aim of integrating with existing petroleum sector companies in the region.
The Minister of Petroleum stressed that the sustainable biofuel production project comes in light of the global trend of shifting towards green energies and the Egyptian state’s commitment to implementing international laws and treaties that aim to preserve the environment.
The Minister pointed out that the biofuel project is one of the most important value-added projects currently being implemented, and places Egypt at the forefront of countries implementing it in the region, and contributes to enhancing investment opportunities in the field of localization of modern technologies used globally, which achieves a return on the national economy.
The project also aims to meet part of the growing needs of national and international airlines, which will be obligated according to international laws to use a percentage of sustainable aviation fuel, starting from 2% in January 2025 and reaching 70% by the end of 2050.
On their part, Honeywell company officials pointed out the importance of this project given the growing regional and global demand for sustainable aviation fuel, as this was emphasized during the COP27 conference in Sharm El-Sheikh last year, and they pointed out that there are only 24 factories for sustainable aviation fuel around the world. Which makes it one of the attractive areas for investment.
They expressed their aspiration to increase the company's investments in Egypt, especially in the areas of reducing emissions, digital transformation, hydrogen production, improving energy efficiency, and other areas in which Honeywell can provide engineering services.
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