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Poland-based Hynfra has strengthened its presence in Egypt through the formation of Egypt Amun Green Ammonia JSC (EAGA), a joint venture with local company Coxswains for Marketing & Commercial Trading.
The new company officially launched operations and opened an office in Cairo earlier this month, according to LinkedIn Posts by Hynfra and Coxswains.
The project, supported by the Egyptian government and General Authority for Investment and Free Zones (GAFI), aims to build a renewable-powered green ammonia production facility in Ras Banas, in southeastern Egypt.
"The location is being assessed for its exceptionally high solar irradiation and consistent, strong winds from the Red Sea, to which the project is expected to have direct access," Hynfra said in its post.
Production is scheduled to begin in 2031 at 400,000 metric tonnes/year, with the potential to scale up to one million tonnes/year in subsequent phases.
The initial investment is estimated at around $5 billion, increasing to approximately $10 billion at full production capacity, the company said.
The project will be powered by an hybrid renewable energy system with total capacity of up to 2,000 megawatts (MW) comprising 1,000 MW solar power and 1,000 MW wind power, according to Egypt's Ministry of Trade and Industry. The system, spanning an area of 100 square kilometres (sq km), will operate independently of Egypt’s national electricity grid.
Export focus
The project also includes a dedicated port for green ammonia shipments. Exports from Phase 1 of the project have been estimated at around $490 million annually backed by offtake agreements with Central and Eastern European markets, the ministry’s statement said.
It added that the project is expected to create 500 direct jobs and more than 3,500 indirect jobs, and support domestic manufacturing for selected components.
(Writing by Eman Hamed; Editing by Anoop Menon)
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