Egypt has signed a $200 million deal with Qatar’s Al Mana Holding to produce sustainable aviation fuel (SAF) from used cooking oil. The project will be situated in the Suez Canal Economic Zone, at the Integrated Sokhna Zone on Egypt’s Red Sea coast, and is set to produce 200,000 tonnes of SAF annually in its first phase.

The initiative marks Qatar’s first industrial investment in the Suez Canal Economic Zone, reflecting growing economic cooperation between Cairo and Doha. The project will be executed in three stages, spanning 100,000 square metres, with Egypt aiming to attract more foreign investments to address its mounting foreign debt and budget deficit.

Prime Minister Mostafa Madbouly hailed the partnership as a sign of strengthened bilateral ties, emphasizing shared political commitment to boosting trade and joint ventures.

This move follows a $29.7 billion Qatari investment in a luxury real estate and tourism project along Egypt’s Mediterranean coast, the largest Qatari investment in Egypt since diplomatic relations were fully restored after a 2017–2021 rift with Doha.

The SAF project aligns with Egypt’s broader strategy to attract foreign capital while supporting global sustainability goals through alternative fuels.