Qatar’s Al Mana signs $200mn aviation fuel contract for Egyptian SCZone project

Egypt’s Suez Canal Economic Zone (SCZone) has signed an agreement with Qatar's prominent and diversified business conglomerate Al Mana Group to launch a new aviation fuel project with an investment of $200mn, Economy Plus reported on December 14.

The project covers a total area of 100,000 square metres, with 70,000 square metres allocated to the industrial zone and 30,000 square metres dedicated to the Sokhna Port. The project will produce 200,000 tonnes annually of sustainable aviation fuel (HVO), BioPropane, and BioNaphtha, derived from the refining of used cooking oils.

In a strategic move, Al Mana has signed a long-term supply agreement with international energy major Shell (SHEL: LSE) to purchase the project’s entire output, with deliveries set to begin by the end of 2027.

The development will be the first Qatari project in the SCZone, as bilateral economic ties between Egypt and Qatar gain momentum.

During his participation at the Egypt-Qatar Business Forum, SCZone Vice Chairman Mustafa Shekhoun said that the new venture is strategically important. The project is expected to boost Qatari investments in Egypt, which currently total around $3.2bn across 266 companies in various sectors such as finance, industry, and tourism, according to Minister of Investment and Foreign Trade, Hassan Al-Khatib.

Al-Khatib explained that Egypt continues to offer promising investment opportunities through a framework focused on cooperation and leveraging mutual advantages. The partnership between the two countries combines Qatari capital and expertise with Egypt’s competitive infrastructure, geographic location, and skilled workforce.

Founded in 1950, Al Mana is a major Qatari conglomerate with a diverse portfolio spanning retail, automotive, real estate, hospitality, and financial services. Known for representing luxury global brands and owning a range of high-profile businesses, the group is a key player in the Middle East.