Green Sky Capital Secures $200 Million Financing for SAF Plant in Ain Sokhna

Green Sky Capital has finalized financing for a $200 million sustainable aviation fuel (SAF) plant in Ain Sokhna. Concurrently, Egypt's Finance Ministry has revised its financing gap forecast to EGP 4 trillion due to regional economic shocks.

The Oil Ministry is set to allocate five LNG cargoes monthly to the industrial sector, up from one, ensuring energy security for heavy manufacturers. Domestic gas production has decreased by 50% from its peak in 2021, necessitating a 40-cargo LNG procurement strategy primarily from the US, increasing the natural gas import bill by 26% to $10.7 billion for FY 2026/27.

Additionally, a $90 per ton export fee on nitrogen fertilizers is enforced for three months, which, combined with natural gas price hikes, raises production costs for local producers. The recent surge in tourism to 5.6 million visitors in Q1 2026 indicates potential recovery in the tourism sector, vital for economic stability. The geopolitical tensions in the US-Iran region are pushing oil prices up, with Brent futures rising 6% to $114.44 per barrel, raising concerns over a potential recession.