Arab Finance: Alexandria National Refining and Petrochemicals Company (ANRPC) has signed an agreement with the Norwegian renewables producer Scatec, in cooperation with the Egyptian Bioethanol Company (EBIOL), to launch a new green methanol production project, as per a statement on May 14^th.

As the first of its kind in Egypt and the Middle East, the project will be built at Damietta Port with around $450 million in investments.

The project aims to produce 40,000 tons of green methanol annually. The project’s capacity could reach a total of 200,000 tons per year.

It will also cover the establishment of 40-megawatt (MW) solar power plants, 120-MW wind farms, a 60-MW hydrogen electrolyzer, a water desalination plant, and green methanol production and storage plants.

Moreover, it will include the first refueling station in Egypt for vessels running on green biofuel.

Being part of the country’s green transition plan, the project will open new horizons for domestic petrochemical exports as well as boost the sector’s competitiveness across the international markets

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