Alfanar, a Saudi Arabian company engaged in manufacturing a wide range of low-, medium- and high-voltage electrical construction products, has signed an agreement with the General Authority of the Suez Canal Economic Zone, the Sovereign Fund of Egypt, the Egyptian Electricity Transmission Company and the New and Renewable Energy Authority to develop a green-ammonia facility in Ain Sokhna, Egypt.
The $3.5 billion project will use renewable energy sources and produce 500,000 tons of green ammonia from 100,000 tons of green hydrogen per year.
“We have enjoyed a long-standing relationship with Egypt and are thrilled to partner with such esteemed organizations of national importance on this program,” said Sabah Al-Mutlaq, chairman of the board of directors of Alfanar Global Development. “Through this agreement, we will be developing a project to produce green hydrogen and green ammonia.”
Alfanar was one of the first companies in the world to operate a 50-mega