Hossam Heiba, CEO of Egypt’s General Authority for Investment and Free Zones (GAFI), met with Borna, a Canadian firm focused on gas processing and carbon capture, to discuss bringing its advanced technologies to Egypt.
The talks explored ways to localize Borna’s solutions in support of Egypt’s low-carbon energy goals.
Borna’s CEO, Sam Salimi, revealed a $40 million investment plan to build a facility in Egypt that will recover flared gas from oil operations.
The plant will extract gases like propane, butane, and methane from emissions and feed them back into the national grid. It will also integrate carbon capture systems, enabling Egyptian firms to tap into the government’s voluntary carbon credit market.
Salimi highlighted that the project will lower energy imports, cut emissions, and generate jobs, noting strong support from Canadian authorities and financial institutions.
Heiba outlined the benefits of Egypt’s private free zones, including tax breaks, faster licensing, affordable land, and the freedom to operate close to oil sites outside public zones.
He also stressed that the new facility’s clean tech output will help Egypt meet international climate standards, such as the EU’s Carbon Border Adjustment Mechanism (CBAM), which rewards low-emission exports.
The partnership reflects Egypt’s drive to attract green investment and lead the region in sustainable energy.
source: www.zawya.com
