Egyptian law firm Mazghouny & Co, led by founder and managing partner, Donia El-Mazghouny (pictured), has played a vital role in assisting Scatec, a renewable energy company, in signing a joint development agreement with Alexandria National Refining and Petrochemicals Company (ANRPC). The agreement focuses on collaborating to establish the first biomethanol production facility in Egypt and the region. With an initial capacity of 40,000 tonnes per year, the facility’s investment cost is estimated at approximately USD 450 million, with plans to increase production capacity up to 200,000 tonnes per year.
The agreement was signed on 14 May, by the chairmen of both companies in the presence of their excellencies Egypt’s Minister of Petroleum and Natural Resources and the Royal Norwegian Ambassador in Cairo.
The primary objective of this project is to leverage Egypt’s strategic position in global trade. By establishing a biomethanol production facility, the country aims to create a bunkering hub for international shipping along the Suez Canal. This initiative aligns with Egypt’s vision to capitalize on its geographical location and unlock the potential of the Suez Canal, facilitating more sustainable energy solutions and promoting environmental stewardship in the region.
Mazghouny & Co Project & Infrastructure team has assisted Scatec with the drafting of the joint development agreement, and head of terms for securing feedstock for the project from companies affiliated to the Egyptian Ministry of Petroleum and Natural Resources.