3 Egyptian firms consider launching $380mln sustainable jet fuel JV

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The investors are the state-run Egyptian Petrochemicals Holding Company (ECHEM) and Alexandria National Refine and Petrochemical Company (ANRPC), in addition to another private firm

Staff Writer, Arab Finance

February 22, 2024

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Egyptian public and private investors are considering building a joint venture (JV) for the production of sustainable jet fuel with investments estimated at $380 million, a government official told Asharq Business.

The investors are the state-run Egyptian Petrochemicals Holding Company (ECHEM) and Alexandria National Refine and Petrochemical Company (ANRPC), in addition to another private firm.

The project’s annual production capacity is estimated at 120,000 tons and is expected to start operation by end-2026, the official said.

He added that the project’s financing study will be prepared by April which include borrowing $280 million from abroad.

Moreover, ECHEM is set to own 70% of the project’s capital, while ANRPC and the private firm will hold 15% each.

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