Under the Patronage of H.E. Eng. Karim Badawi, Minister of Petroleum and Mineral Resources

Cairo: Abu Qir Fertilizers & Chemicals Company, AlexFert, a subsidiary of Valmore Holding, Orascom Construction SAE, and UEG Green Hydrogen Development Holding Limited (UEG) have signed a Memorandum of Understanding (MoU) on the sidelines of EGYPES 2026 to explore the development of a Mediterranean Green Hydrogen Hub Project in Alexandria. This strategic step reinforces Egypt’s position as a regional and global hub for sustainable energy.

The MoU was signed under the patronage of H.E. Eng. Karim Badawi, Minister of Petroleum and Mineral Resources, and in the presence of senior representatives from the four companies, marking a new phase of industrial integration aimed at producing green hydrogen and integrating it into low-carbon ammonia production, in alignment with Egypt Vision 2030 and its national clean energy strategy.

Under the MoU, UEG and Orascom Construction will lead feasibility studies related to 500 MW renewable energy generation (wind and solar) and green hydrogen production, while Abu Qir Fertilizers & Chemicals Company and AlexFert will evaluate the integration of green hydrogen into ammonia production processes, targeting 480 tons per day of RFNBO ammonia, in addition to facilitating access to local resources and infrastructure.

The MoU establishes a framework for cooperation while the parties conduct technical, commercial, and regulatory assessments, with the intention to negotiate definitive agreements for the project’s development, subject to the outcomes.

In this context, H.E. Eng. Hany Dahy, Chairman of Abu Qir Fertilizers & Chemicals Company, stated: "This partnership reflects Abu Qir’s commitment to leading the transition toward low-carbon ammonia production, leveraging our existing assets while integrating green hydrogen solutions."

Mr. Gu Xiaodong, General Manager of UEG Hydrogen Limited, commented: "We are advancing feasibility and development activities with our partners to establish a scalable green hydrogen platform in Egypt, supporting both local industry and export markets."

Eng. Kamel Elsawy, President of UEG Africa, added: "Egypt offers a strategic gateway for green energy investments, and we are actively working to accelerate project studies and partnerships to bring this vision into reality."

Eng. Ihab Mehawed, Managing Director of Orascom Construction SAE, said: "We are progressing technical evaluations to integrate renewable energy solutions that will enable reliable and competitive green hydrogen production at scale."

Mr. Alaa El Banna, Chairman of AlexFert, noted: "We are exploring practical pathways to incorporate green hydrogen into ammonia production, enhancing sustainability while maintaining operational efficiency."

Mr. Jon Rokk, CEO of Valmore Holding, stated: "This project advances Valmore’s sustainable growth in chemicals and energy, aligning with national ambitions to position Alexandria as a green fuel hub and reinforcing the long-term competitiveness of our portfolio."

It is worth noting that AlexFert was established in 2003 and is a subsidiary of Valmore Holding, which is considered one of the region’s most established and consistently growing investment holding companies. AlexFert is a distinguished leader in the fertilizer industry, renowned for providing high-quality nitrogen-based fertilizers that meet the evolving demands of both local and global markets. Since its inception, the company has strengthened its position as a prominent producer of anhydrous ammonia as an intermediate product, in addition to granulated urea and ammonium sulphate as final products. AlexFert integrates the latest technological advancements throughout its product development cycle and operates a state-of-the-art production facility spanning 110 thousand square meters in Alexandria.

Valmore Holding is a leading investment platform, building on a legacy that dates back to 1997. Its diversified investment portfolio spans five strategic sectors across multiple geographies, including chemicals, building materials, utilities, oil and gas, and non-banking financial services. Valmore continues to drive scalable growth through disciplined investments, delivering long-term sustainable value. The Company’s shares are dual-listed on the Egyptian Stock Exchange under the symbols VLMR.CA and VLMRA.CA, and on Boursa Kuwait under the symbol VALMORE.KW.