Arab Finance: Egypt’s Cabinet has approved the establishment of a special free zone for Fujairah Alamein Oil and Gas Company LLC to store and trade crude oil and petroleum products in New Alamein City, according to Cabinet Resolution No. 65 of 2026.

The 737,914.9-square-meter zone will be located south of the Alexandria-Matrouh Coastal Road in Matrouh Governorate.

Its northern boundary extends for 1,069.80 meters along the Alexandria-Matrouh Coastal Road, while its southern boundary spans 745.50 meters along the M15 Road, which is 49.20 meters wide and under construction.

The eastern boundary spans 912.20 meters alongside vacant land, while the western boundary runs for 823.40 meters beside the expansion area of El Hamra Port.

Under the resolution, the company must export no less than 100% of its annual production and ensure that the local component accounts for at least 50% of its products.

The company is also required to submit an approved title deed for the project site and secure the Egyptian Environmental Affairs Agency’s (EEAA) approval.

It must comply with industrial security, civil defense, and fire safety requirements under the applicable Egyptian code or decisions issued by the Minister of Industry concerning industrial facilities.

The company will also be responsible for securing the special free zone and its boundaries through guard towers and surveillance cameras at its own expense.

The General Authority for Investment and Free Zones (GAFI) will oversee the zone’s activities, monitor its operations, and verify compliance with the applicable requirements and procedures.

Prime Minister Mostafa Madbouly issued the resolution on August 18, 2026, following the Cabinet’s approval and a proposal submitted by the Minister of Investment and Foreign Trade. The resolution was issued under Investment Law No. 72 of 2017 and its executive regulations and will be published in the Official Gazette.