New funding for sustainable aviation fuel project in Egypt

Doha-based Green Sky Capital has secured new funding for a $500 million sustainable aviation fuel (SAF) production facility in Egypt’s Ain Sokhna.

The project is backed by $200 million in funding for the initial phase from Qatar’s Al Mana Holding and Vision Invest, a Saudi Arabian infrastructure investor and developer.

The facility, within the Suez Canal Economic Zone, will support the International Air Transport Association’s target for the aviation sector to achieve net zero carbon emissions by 2050, Green Sky Capital said in a statement.

No details were given on the new funding amount. 

The Arab Energy Fund, formerly known as Apicorp, acted as the global structuring bank and co-mandated lead arranger. 

The facility, spanning 100,000 square metres, is expected to produce up to 200,000 tonnes per annum of biofuels, including SAF, hydrotreated vegetable oil, biopropane and bionaphtha. Commercial operations are expected to start by the end of 2027.

Green Sky, a developer of large-scale sustainable aviation fuel and renewable projects in the Mena region, signed a long-term offtake agreement with Shell in December 2025.

Further reading:

• Emirates chief: Passengers will decide if flying green is worth cost
• Sustainable aviation fuel could push airfares up 40%
• Masdar and Tadweer to build sustainable fuel plant