Arab Finance: Egypt’s Minister of Industry Khaled Hashem discussed a planned green ammonia project with initial investments of $5 billion, rising to $10 billion at full capacity, during a meeting with a delegation from Egypt Amun Green Ammonia (EAGA), a consortium comprising Poland's Hynfra and Egypt's Coxswains, as per a statement.
The project is expected to begin production by 2031 with an initial annual capacity of 400,000 tons, expandable to 1 million tons in later phases.
The meeting was attended by Tomoho Umeda, President of Hynfra, alongside officials from the Ministry of Industry.
The project is planned for Ras Banas in southeastern Egypt and will rely on a hybrid renewable energy system with a total capacity of up to 2,000 megawatts, evenly split between solar and wind power. It will operate independently of the national electricity grid and span an area of approximately 100 square kilometers.
Plans also include the development of an integrated export infrastructure, including a dedicated port for green ammonia shipments. Export revenues are estimated at around $490 million annually in the first phase, supported by signed contracts covering the full production volume for markets in Central and Eastern Europe.
The project is expected to create around 500 direct jobs and more than 3,500 indirect jobs, with efforts to localize the manufacturing of selected components.
Hashem said the ministry supports industrial initiatives that expand the role of renewable energy and reinforce Egypt’s position as a regional and global hub for hydrogen and green ammonia production. He added that the project aligns with efforts to localize advanced technologies in renewable energy and diversify the country’s energy mix, while reducing pressure on the national grid.
For his part, Umeda said Hynfra aims to bring its more than 100 years of experience in the ammonia industry to Egypt, noting that the project is designed to integrate with key sectors, including agriculture, water, and energy, in support of broader economic development objectives.
