Latest news with #Heikal
Egypt Today
17-04-2025
- Business
- Egypt Today
Egypt's Ministers Coordinate on Sustainable Aviation Fuel Production
CAIRO – 17 April 2025: Egypt's ministers of petroleum, environment, and civil aviation held a joint meeting at the Ministry of Petroleum's headquarters in the New Administrative Capital to coordinate efforts on the ongoing Sustainable Aviation Fuel (SAF) production project. The project, currently being implemented by the Egyptian Petrochemicals Holding Company (ECHEM), forms a core part of the Ministry of Petroleum and Mineral Resources' strategy to support sustainable development and environmental stewardship. Minister of Environment Yasmine Fouad underscored the importance of aligning efforts across sectors to support Egypt's transition to clean and sustainable energy sources—particularly within the aviation sector, which plays a critical and environmentally sensitive role. Fouad highlighted that SAF production marks a pivotal step toward reducing the aviation sector's carbon footprint. She emphasized that carbon certificates can only be sold or traded in accordance with specific standards and regulations. The Ministry of Petroleum, she noted, has outlined emission reduction targets as part of Egypt's Nationally Determined Contributions (NDCs), and has developed mechanisms for the regulation of carbon certificate sales. She also referenced the national bioeconomy strategy, which aims to promote biofuel production as a sustainable and eco-friendly alternative. Used cooking oil, a key input for SAF production, has been the focus of a comprehensive study conducted by the Waste Management Regulatory Agency, which now classifies it as a valuable resource. Tamer Heikal, chairman of the Egyptian Sustainable Aviation Fuel Company (ESAF), presented the project's business plan, objectives, and implementation roadmap. Heikal stated that the $530 million project has completed its feasibility studies in collaboration with the European Bank for Reconstruction and Development (EBRD). He emphasized the project's strong economic potential, noting that it will utilize advanced hydrotreating technology to convert used cooking oil into 120,000 tons of SAF annually. The fuel will be used to meet domestic demand and support exports. The facility is being constructed on a 100,000-square-meter site opposite Dekheila Port. Procedures are currently underway to select a technology licensor and an engineering, procurement, and construction (EPC) contractor. The project is also progressing in partnership with four international financial institutions. Heikal added that efforts are in motion to market the SAF to global aviation companies and to secure consistent supplies of used cooking oil. He stressed the importance of cross-sector collaboration—particularly with the ministries of environment and civil aviation—to accelerate the project's completion and maximize its returns.
Zawya
25-02-2025
- Business
- Zawya
Egypt: Qalaa Holdings launches herb drying plant, glass wool pipe production line
Egypt - Qalaa Holdings inaugurated a herb drying factory at Dina Farms, with EGP 400 million in investment for the first phase, according to an emailed press release. The EGX-listed firm also launched a glass wool pipe insulation production line at GlassRock Insulation Company, with an investment of EGP 27 million. Deputy Prime Minister for Industrial Development and Minister of Industry and Transport Kamel El-Wazir attended the inauguration with Qalaa Holdings' Chairman and Founder Ahmed Heikal and Qalaa Holdings' Co-Chief Operating Officer and Managing Director Amir Naguib. Heikal noted that these investments align with Qalaa Holdings' strategy to support energy and food security while boosting economic development. He added that the group focuses on developing local manufacturing capabilities and promoting high-value-added in line with Egypt Vision 2030. The company's export revenues amounted to $47.7 million in the first nine months of 2024, while the sales in foreign currency hit nearly $2.3 billion. Meanwhile, Qalaa Holdings aims to increase its foreign cash flows in the coming years. Heikal expected that the value of exports of insulation and herbal products would reach about $40 million. The herb drying facility is a fully integrated export-oriented factory that seeks to meet the growing demand for high-quality dried herbs in international markets. The expected export value of the new plant's products stands at approximately $20 million, which is expected to double in the next few years. On his part, Naguib said GlassRock's business has witnessed significant developments since its establishment 12 years ago with an investment of $70 million. He added that it is the only Egypt-based company that produces glass wool and exports its products to more than 45 countries worldwide. He indicated that the company's products contribute to reducing energy consumption by 40%. GlassRock has invested EGP 27 million in expanding its production line for glass wool pipe insulation, which contributes to saving $6 million from the state's annual budget. Naguib affirmed that the newly launched line backed GlassRock's product portfolio to meet the growing demands and save further $12 million annually by providing high-quality glass wool products to the local market. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
